Eigenkapitalforum Company Update November 12, 2013

Transcription

1 Eigenkapitalforum 2013 Company Update November 12, 2013

2 Safe Harbour This presentation includes forward-looking statements. Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties including changes in business, economic competitive conditions, regulatory reforms, foreign exchange rate fluctuations and the availability of financing. These and other risks and uncertainties are detailed in the Company s Annual Report. 2

3 Investment Proposition Very promising clinical assets with significant ownership MOR202: Celgene alliance for co-development/european co-promotion MOR103: Successful out-licensing to GSK MOR208: In Phase 2 for B-cell malignancies Deep partnered pipeline with several potential blockbusters 21 programs in clinical development Gantenerumab, bimagrumab, guselkumab Financially robust Recurring cash-flows Strong balance sheet 3

4 Technology 4

5 HuCAL: The Most Successful Antibody Library Technology in the Industry HuCAL: Most successful antibody library with output of >20 clinical programs Transforming R&D productivity with success rates from target to IND of 40% Successfully partnered with many of the leading pharmaceutical companies Target HuCAL antibody drug candidate Pharma partner R&D funding Technology licence fees Milestones and royalties 5

6 New Technologies Enabling the Creation of Differentiated Drugs Differentiated Drug Candidates Ylanthia Totally new antibody platform Higher quality antibodies, greater diversity faster access to superior drug leads US patent granted January 2013 Lantipeptides Alliance with Lanthio Pharma to develop lantipeptide libraries for drug discovery Preferred rights to exclusive license MorphoSys has minority equity position New Target Classes Antibodies Against GPCRs MorphoSys secures access to stabilized GPCRs produced by Heptares MorphoSys will make and offer antibodies against GPCRs Most important target class; challenging for antibodies 6

7 Innovative Product Pipeline 7

8 The MorphoSys Pipeline 21 Clinical Programs, 82 Total Program Partner Target Indication Discovery Preclinic Phase 1 Phase 2 Phase 3 Bimagrumab (BYM338) Novartis ActRIIB Musculoskeletal Gantenerumab Roche Amyloid-ß Alzheimer s Disease MOR103 GSK GM-CSF Rheumatoid Arthritis MOR208 - CD19 CLL, NHL, ALL BHQ880 Novartis DKK-1 Cancer CNTO3157 Janssen/J&J - Asthma CNTO6785 Janssen/J&J - Rheumatoid Arthritis Guselkumab (CNTO1959) (2 programs) Janssen/J&J IL23p19 Psoriasis Rheumatoid Arthritis LFG316 Novartis C5 Eye Disease NOV 3 Novartis - not discl. OMP-59R5 OncoMed/GSK Notch 2 Cancer VAY736 Novartis BAFF-R Inflammation MOR103 GSK GM-CSF Multiple Sclerosis MOR202 Celgene/MOR CD38 Multiple Myeloma BAY Bayer Healthcare Mesothelin (ADC) Cancer BI 1 BI - not discl. LJM716 Novartis HER3 Cancer NOV - 7 Novartis - Eye Disease PFE 1 Pfizer - Cancer Vantictumab (OMP-18R5) OncoMed/Bayer Fzd 7 Cancer 22 Programs Various Partners - Various Indications 39 Programs Various Partners 3 Proprietary Pr. - Various Indications 75 Partnered Programs 7 MOR Programs 8

9 MOR103 Global License Agreement with GSK MOR103 Human antibody to treat inflammatory conditions, e.g. rheumatoid arthritis (RA), multiple sclerosis (MS) Revenues with approved drugs in RA exceed $20bn Phase 1b/2a trial in RA successfully completed Phase 1b in MS ongoing GSK assumes global responsibility for clinical development and commercialization of MOR103 in all indications MorphoSys receives EUR 22.5 million upfront payment Up to EUR 423 million in success-based payments Tiered, double-digit royalties on net sales 9

10 MOR202 Co-development Agreement with Celgene MOR202 Human antibody to treat multiple myeloma (MM) Revenues with approved drugs in MM exceed $2bn Phase 1/2a clinical trial in relapsed or refractory MM patients currently ongoing MorphoSys and Celgene sign global co-development and European co-promotion agreement (Costs: 1/3 MOR, 2/3 Celgene) MorphoSys receives EUR 70.8 million upfront payment Celgene pays EUR 46.2 million for 3.4% stake in MOR at EUR per share (53% premium to pre-announcement price) Up to EUR 511 million in success-based payments Co-promotion in Europe with 50:50 profit share; tiered double digit royalties in rest-of-world 10

11 MOR208 (XmAb5574) A Novel Anti-Cancer Antibody Large Market and Unmet Need Large unmet medical need in NHL, CLL & ALL Revenues with approved drugs for B cell malignancies exceed $5bn MOR208 Anti-CD19 antibody in-licensed from Xencor CD19 expressed earlier than CD20 potential greater efficacy vs. anti-cd20s Proprietary modification in Fc region rapid & sustained B-cell depletion Minor modification means convenient dosing schedule, straightforward manufacturing Clinical Development Phase 1 study successfully completed Phase 2 trials in ALL and NHL ongoing Combination therapy study in CLL being considered 11

13 Bimagrumab (BYM338) A Novartis Musculoskeletal Program Bimagrumab is a HuCAL antibody against ActRIIB Novartis received FDA breakthrough therapy designation for sporadic inclusion body myositis (sibm) Phase 2 study showed that bimagrumab substantially benefited patients with sibm In Phase 2 development for Sporadic inclusion body myositis Cancer-related cachexia COPD-related cachexia Sarcopenia Mechanically ventilated patients Recently Highlighted by Novartis Imagine the equivalent of 8 or 10 weeks of exercise in one injection Listed as a planned filing 2016 Source: 13

15 Gantenerumab: A HuCAL Antibody Being Developed by Roche for Alzheimer s Disease Large Market and Unmet Need Alzheimer s disease is estimated to affect 25 million people worldwide Increasing with aging population Once symptoms for AD dementia have appeared, it may be too late to treat Picture: Courtesy of Roche 15

16 % Amyloid change from baseline Gantenerumab: The Most Advanced Antibody in Development for Alzheimer s Disease Gantenerumab High affinity HuCAL antibody targeting amyloid-β Binds & breaks down amyloid-β fibrils and plaques Clinical Development Phase 1: gantenerumab reduces brain amyloid 3x faster than other amyloid-targeting substances Phase 3 study (Roche) 770 prodromal patients, 2 doses (105mg & 225mg s.c.), placebo-controlled 104 weeks on drug, with an option for an additional 2 years of treatment Primary Endpoint: Change in the Clinical Dementia Rating Scale Sum of Boxes (CDR-SOB) Data expected 2016 Phase 3 study (Dominantly Inherited Alzheimer Network) Genetically pre-disposed subjects Data from Phase 1 Effect of gantenerumab on amyloid load as indexed by PET SUVR at end of treatment Data: Courtesy of Roche 16

18 Guselkumab A Janssen Anti-Inflammatory Program Guselkumab is a HuCAL antibody against IL-23 Phase 2 development for psoriasis Phase 2 study vs. Stelara in rheumatoid arthritis Specific for IL-23 Guselkumab binds the p19 sub-unit of IL-23, while Stelara binds the p40 sub-unit of IL-23 and IL-12 Highlighted at Janssen s Last Analyst Day Listed under planned filings

19 Strong Financials 19

20 Shareholdings Shareholdings by Investor Type Institutional & Retail Investors - 87% Novartis - 6% Celgene - 3% Treasury Stock - 2% Management & Supervisory Boards - 2% 6% 3% Capital Increases Q August 2013 Investor: Celgene Number of new shares: 797,150 Price: per share September 2013: Investor: Institutional Investors (US/EU) Number of new shares: 1,514,066 Price: per share (at market) 87% MorphoSys AG (FSE: MOR, Prime Standard, TecDAX; OTC: MPSYY) Shares issued: 26,119,309 (October 31, 2013) 20

21 Key Financials in EUR million 9-Month 2013 Guidance 2013* Group Revenues EBIT to 10 Cash, cash equivalents & marketable securities as well as other financial assets as of September 30, * Updated on October 24,

22 Outstanding Recent Progress MOR202 Co-development partnership with Celgene MOR103 Partnership with GSK MOR208 Promising Phase 1 data in CLL Phase 2 studies in ALL and NHL started Bimagrumab Breakthrough therapy designation Pivotal study started in Q NOV-7 Seventh program enters clinic from Novartis alliance

23 Clinical Trials Scheduled for Completion Partnered Phase 2 Phase 1 Bimagrumab Cachexia (cancer) Guselkumab Palmoplantar Postulosis Guselkumab RA (vs. Stelara) Bimagrumab Ventilated Patients Bimagrumab Cachexia (COPD) Proprietary Phase 2 Phase 1 Bimagrumab Sarcopenia LFG316 Wet AMD Guselkumab Psoriasis LFG316 NOV-3 AMD undisclosed NOV-3 Undisclosed MOR208 B-ALL BHQ880 MM/Renal Insufficiency NOV-3 undisclosed MOR103 Multiple sclerosis MOR202 Multiple myeloma BHQ880 Smoldering MM MOR208 CLL (extension arm) BI-1 undisclosed BI-1 undisclosed BAY (ADC) Solid Tumors Gantenerumab Liquid vs. Lyophilized Guselkumab Devices/Formulation Gantenerumab AD/Japan CNTO3157 Asthma Guselkumab Psoriasis (Japan) OMP-59R5 Solid Tumors OMP-18R5 Solid Tumors LJM716 Single LJM716 Combo 2013 Potential data events based on clinical trial design & MorphoSys estimates

24 Thank You Dr. Claudia Gutjahr-Löser Head of Corporate Communications & IR Phone +49 (0)89 / Fax +49 (0)89 / investors@morphosys.com HuCAL, HuCAL GOLD, HuCAL PLATINUM, CysDisplay, RapMAT, aryla, Ylanthia and 100 billion high potentials are registered trademarks of MorphoSys AG. Slonomics is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.