Emergent Bio and MorphoSys team up to develop cancer therapeutic

Emergent BioSolutions (NYSE:EBS) and MorphoSys AG enter into an agreement to jointly develop and commercialize Emergent's bi-specific antibody, ES414, for the treatment of prostate cancer. Under the terms of the contract, Emergent will receive an upfront payment of $20M and milestone payments of up to $163M. MorphoSys will bear 64% of ES414's development costs and Emergent will bear 36%. Emergent will retain commercialization rights in the U.S. and Canada and pay MorphoSys royalties from mid-single-digit up to 20%. MorphoSys will own commercialization rights for the rest of the world and pay Emergent low-single-digit royalties.

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