MorphoSys rises on licensing deal with Novartis

Morphosys AG

07/12/2022 08:52

** Shares of German biotech group MorphoSys  MORG.DE  rise
4% after its unit Constellation Pharmaceuticals signs global
licensing agreement with Novartis  NOVN.S 
    ** Under the deal, Novartis gets exclusive rights for
pre-clinical inhibitors of a novel cancer target
    ** MorphoSys receives an upfront payment of $23 million,
with potential milestone payments and royalties on net sales to
follow
    ** Novartis  NOVN.S  shares edge up 0.6%
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))