- Galapagos NV (NASDAQ:GLPG) and development partner MorphoSys (MOR) have out-licensed exclusive global development and commercialization rights to IgG1 monoclonal antibody MOR106 to Novartis (NVS).
- Under the terms of the agreement, they will receive a €95M ($111M) upfront, up to €850M ($1B) in milestones and tiered mid-teens to low-twenties royalties on net sales. All payments will be equally shared.
- Novartis will be responsible for all future development, manufacturing and commercialization costs, including the ongoing Phase 2 IGUANA study in atopic dermatitis as well as the planned Phase 1 study investigating a subcutaneous formulation of the IL-17C inhibitor.
- Update: On September 12, Galapagos and MorphoSys announced that the agreement became effective on September 10.