Post on 18-Jul-2020
Company Update June 13, 2014
Deutsche Bank
dbAccess German, Swiss & Austrian Conference
© MorphoSys - June 2014
Safe Harbour
© MorphoSys - June 2014
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
Introduction to MorphoSys
© MorphoSys - June 2014
Strong balance sheet and recurring cash-flows support investment in R&D
Exciting proprietary assets MOR103, MOR202 & MOR208
Broad partnered pipeline based on proprietary HuCAL technology
3
MorphoSys is committed to developing a valuable pipeline of truly differentiated
therapeutic antibodies built using proprietary technologies.
The MorphoSys Pipeline
20 Clinical Programs, 83 Total
© MorphoSys - June 2014 4
Most advanced development stage
Program Partner Target Disease Area Discovery Preclinic Phase 1 Phase 2 Phase 3
Bimagrumab (BYM338) Novartis ActRIIB Musculoskeletal
Gantenerumab Roche Amyloid-ß CNS
MOR103 GSK GM-CSF Inflammation
MOR208 - CD19 Cancer
BHQ880 Novartis DKK-1 Cancer
CNTO3157 Janssen - Inflammation
CNTO6785 Janssen - Inflammation
Guselkumab (CNTO1959) Janssen IL23p19 Inflammation
LFG316 Novartis C5 Ophthalmology
LJM716 Novartis HER3 Cancer
NOV – 3 Novartis - not discl.
OMP-59R5 OncoMed Notch 2 Cancer
VAY736 Novartis BAFF-R Inflammation
MOR202 Celgene CD38 Cancer
BAY94-9343 Bayer Mesothelin (ADC) Cancer
BI – 836845 BI IGF-1 Cancer
NOV – 7 Novartis - Ophthalmology
NOV – 8 Novartis - Inflammation
PF-05082566 Pfizer 4-1BB Cancer
Vantictumab (OMP-18R5) OncoMed Fzd 7 Cancer
24 Programs Various - Various
39 Programs Various - Various
77 Partnered Programs
6 MOR Programs
Pipeline Programs: Business Structure
© MorphoSys - June 2014 5
Partner provides target
MorphoSys technology used to develop
optimized antibody lead candidate
Partner responsible for development and
commercialization
MorphoSys receives milestone & royalties
MorphoSys selects program at
target stage (discovery) or
later (in-licensing)
MorphoSys is fully responsible for pre-clinical
and clinical development
Various partnering strategies
Partner Programs MOR Programs
Discovery Market Market
Partnering Partner
Discovery
INNOVATIVE
PRODUCT PIPELINE
© MorphoSys - June 2014 6
The MorphoSys Proprietary Portfolio
© MorphoSys - June 2014 7
Program Partner Target Indication Discovery Preclinic Phase 1 Phase 2 Phase 3
MOR103 GSK GM-CSF Rheumatoid Arthritis
Multiple Sclerosis
MOR202 Celgene CD38 Multiple Myeloma
MOR208 CD19 ALL
NHL
CLL (IST)
3 Programs Various
Fully partnered (tiered, double-digit royalties)
Co-development & Co-promotion
Un-partnered
Two Programs Partnered in Lucrative Deals
with Celgene and GSK
© MorphoSys - June 2014 8
MOR103
Out-licensed on Phase 1b/2a data in RA
GSK
Responsible for 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
MOR202
Global co-development and European
co-promotion agreement
Costs: 1/3 MorphoSys, 2/3 Celgene
Upfront payment of EUR 70.8m
Equity investment of EUR 46.2m
Up to EUR 511m in development,
regulatory and sales milestones
Co-promotion in Europe with 50:50 profit
share
Exclusive Celgene in rest-of-world, tiered
double digit royalties to MOR
MOR103
Novel Mode of Action in Rheumatoid Arthritis
© MorphoSys - June 2014 9
DRUG
HuCAL IgG1 targeting GM-CSF
GM-CSF is a key inflammatory mediator in
RA and other inflammatory conditions
DIFFERENTIATION
Targets monocytes & macrophages
Ultra-high affinity
Fast onset of therapeutic effect
STATUS
Phase 1b/2a trial in RA patients showed
excellent efficacy, durable response & clean
safety profile
Phase 1b in MS completed
Global license agreement with GSK
Results from Phase 1b/2a Trial in RA
- DAS28 Scores over 16 weeks -
Very fast onset of therapeutic effect
Durable response
Clean safety profile
Week
Mean c
hange f
rom
base
line
Administration of MOR103
MOR202
A Novel Antibody for Multiple Myeloma
© MorphoSys - June 2014 10
DRUG
High affinity HuCAL antibody targeting CD38
Binds to a unique epitope
DIFFERENTIATION
Induces ADCC and ADCP
Strong synergy with lenalidomide &
bortezomib in pre-clinical models
2 hour infusion
STATUS
Phase 1/2a trial in relapsed or refractory MM
patients ongoing
Further clinical studies, including combos,
being planned
Global co-development and European
co-promotion agreement with Celgene
Taken from poster presented at ASH 2012 - Abstract #4018
MOR202 Combination with Lenalidomide
Significantly Prolongs Survival in a
Ramos in Vivo Mouse Model
MOR208
A Novel Antibody to Treat B-cell Malignancies
© MorphoSys - June 2014 11
DRUG
Fc-enhanced, humanized antibody
targeting CD19
In-licensed from Xencor
DIFFERENTIATION
Fc modification leads to dramatically
enhanced B-cell depletion
Convenient dosing schedule
Straightforward manufacturing
STATUS
Phase 2 ALL: 30 R/R patients
Phase 2 NHL: Up to 30 R/R patients each
in FL, MCL, DLBCL & other indolent NHL
Phase 2 CLL: Lenalidomide combo in
R/R CLL and untreated CLL patients
(IST – Investigator sponsored trial by OSU)
Best Responses
(Phase 1 in CLL – presented@ASH2012)
Overall
response Total
Phase 1 4 (15%) 27
Phase 2a 8 (30%) 27
0.3
mg/kg
1
mg/kg
3
mg/kg
6
mg/kg
9
mg/kg
12
mg/kg Total (%)
Responses by NCI96
criteria (physical exam)
Complete Response 0
Partial Response 2 1 3 12 18 (66.7)
Stable Disease 1 1 1 1 0 4 8 (29.6)
Progressive Disease 0
Unknown 1 (3.7)
Response by IWCLL
2008 criteria (CT scan)
Complete Response 0
Partial Response 1 2 1 4 (14.8)
Stable Disease 1 1 2 1 1 14 20 (74)
Progressive Disease 1 1 2 (7.4)
Unknown 1 (3.7)
Preliminary Phase 2a Results (CLL)
Program Partner Target Indication Phase 1 Phase 2 Phase 3
Bimagrumab Novartis ActRIIB sIBM
(BYM338) Cachexia (Cancer)
Sarcopenia
Mechanically ventilated
Cachexia (COPD)
BHQ880 Novartis DKK-1 MM (renal insufficiency)
Smoldering MM
LFG316 Novartis C5 Wet AMD
Geographic Atrophy
MCP
NOV-3 Novartis n.d. n.d.
VAY736 Novartis BAFF-R Pemphigus Vulgaris
Primary Sjögren's Syndrome
RRMS
LJM716 Novartis HER3 ESCC
Head & Neck Squamous Cell
Carcinoma
HER2+ Cancer
HER2+ Cancer combination
with trastuzumab
Solid Tumors
NOV-7 Novartis n.d Eye Disease
NOV-8 Novartis n.d Inflammation
Partnered Clinical Pipeline (I)
© MorphoSys - June 2014 12
Program Partner Target Indication Phase 1 Phase 2 Phase 3
Gantenerumab Roche Amyloid-ß Prodromal AD
Mild AD
Genetically predisposed
Japanese AD patients
Biovailability
Guselkumab Janssen/J&J IL23p19 Psoriasis
(CNTO1959) Rheumatoid Arthritis
Palmoplantar Pustulosis
CNTO3157 Janssen/J&J n.d. Asthma
Safety/Pharmacokinetic
CNTO6785 Janssen/J&J n.d. COPD
Rheumatoid Arthritis
OMP-59R5 Oncomed/GSK Notch 2 Pancreatic Cancer
Small Cell Lung Cancer
Solid Tumors
Vantictumab Oncomed/Bayer Fzd 7 Solid Tumors
(OMP-18R5) Breast Cancer
Pancreatic Cancer
NSCLC
BAY94-9343 Bayer Mesothelin Solid Tumors
BI-836845 BI IGF-1 Cancer
Cancer
Cancer
PFE-05082566 Pfizer 4-1BB Solid Tumors, NHL
Partnered Clinical Pipeline (II)
© MorphoSys - June 2014 13
Bimagrumab (BYM338)
A Novartis Musculoskeletal Program
© MorphoSys - June 2014 14
DRUG
HuCAL antibody against ActRIIB
FDA breakthrough therapy designation for sporadic
inclusion body myositis (sIBM)
Orphan drug designation in sIBM
DIFFERENTIATION
Novel mechanism of action
Phase 2 study showed that bimagrumab substantially
benefited patients with sIBM
STATUS
Pivotal study in sIBM ongoing
Phase 2 studies ongoing in:
Cancer-related cachexia
COPD-related cachexia
Sarcopenia
Mechanically ventilated patients
Listed by Novartis as “planned filing 2016”
M. Schuelke at al, N Engl J Med 2004;350:2682-8
Gantenerumab
A Roche Alzheimer’s Disease Program
© MorphoSys - June 2014 15
DRUG
HuCAL antibody against amyloid-ß
Binds N-terminus and middle of peptide
DIFFERENTIATION
Binds/disrupts amyloid plaque and oligomers; binds
peptide only weakly
Gantenerumab reduces brain amyloid 3x faster than
other amyloid-targeting substances in mild-to-
moderate AD patients
STATUS
Phase 3 SCarlet RoAD trial with 770 prodromal
patients (2 doses, 104 weeks on drug)
Data expected in 2016
Phase 3 Marguerite RoAD trial with 1,000 patients
with mild AD
Estimated study completion date: 03/2019
Phase 3 DIAN network trial in genetically pre-
disposed patients
Data from Phase 1
Effect of gantenerumab on
amyloid load as indexed by PET
SUVR at end of treatment
% A
mylo
id c
hange
from
base
line
Data: Courtesy of Roche
Guselkumab (CNTO1959)
A Janssen Anti-Inflammatory Program
© MorphoSys - June 2014 16
DRUG
HuCAL antibody against IL-23
DIFFERENTIATION
Guselkumab binds the p19 sub-unit of IL-23, while
Stelara binds the p40 sub-unit of IL-23 and IL-12
Higher specificity through selected inhibition of
IL-23 may provide better risk/benefit profile
STATUS
Phase 2 study in psoriasis successfully completed,
J&J plans to start phase 3
Two additional Phase 2 studies ongoing:
Active rheumatoid arthritis
Palmoplantar pustulosis
Listed under “planned filings 2013 – 2017”
(J&J analyst day 2013)
Source: Jetten AM, Nucl Recept Signal, 2009
Guselkumab Shows Significant Efficacy in Treat-
ment of Moderate to Severe Plaque Psoriasis
© MorphoSys - June 2014 17
Results at week 16 presented at the 2014 AAD (phase 2b X-PLORE study)
Up to 86% of psoriasis patients achieved a Physician's Global Assessment (PGA) score of cleared or
minimal at week 16 (primary endpoint)
Significantly higher levels of efficacy at all doses studied compared to placebo group
Safety
Two serious infections in patients receiving guselkumab
One guselkumab-treated patient reported a malignancy
Three cardiovascular [CV] events in guselkumab-treated patients: one fatal myocardial infarction
[MI], one nonfatal MI, one cerebrovascular accident, all patients had multiple pre-existing CV risk
factors
@Week 16 Placebo 5 mg 50 mg 200 mg 15 mg 100 mg Adalimumab
at week 0, 4, then every 12 weeks every 8 weeks
PGA score
(cleared (0) or
minimal (1)
disease)
7% 34% 79% 83% 61% 86% 58%
PASI 75 5% 44% 81% 81% 76% 79% 70%
PASI 90 2% 34% 45% 57% 34% 62% 44%
AEs (SAEs) in % 50 (1) 50 (2) 56 (2)
Highlighted Programs All Have Blockbuster
Potential
© MorphoSys - June 2014 18
Program Indication Forecast Peak Sales*
MOR103 Rheumatoid Arthritis $3.2bn
MOR202 Multiple Myeloma $2.1bn
MOR208
NHL
CLL
ALL
$790m
$350m
$250m
Bimagrumab
sIBM
Cancer cachexia
Ventilated patients
COPD Cachexia
Sarcopenia
$400m
$1.3bn
$600m
$1.0bn
$1.6bn
Gantenerumab Alzheimer’s Disease $15bn
Guselkumab Psoriasis
Rheumatoid Arthritis
$950m
$1.6bn
* Based on an external study by Defined Health using publicly available information
$1.4bn
$4.9bn
$2.6bn
FINANCIALS
© MorphoSys - June 2014 19
Shareholdings
© MorphoSys - June 2014 20
67%
22%
5% 3%
Institutional Investors - 67%
Retail Investors 22%
Novartis - 5%
Celgene - 3%
Treasury Stock - 1%
Management & Supervisory Boards - 2%
Stock Information
Prime Standard, TecDAX
FSE: MOR (ISIN: DE0006632003)
OTC: MPSYY
Ticker:
Bloomberg: MOR:GR
Reuters: MORG.DE
Thomson ONE: MOR-XE
Shares issued: 26,220,882 (March 31, 2013)
Fully diluted number of shares: 26,987,681
(March 31, 2013)
Shareholdings by Investor Type
Key Financials
© MorphoSys - June 2014
in EUR million Guidance 2014 Q1 2014
Group Revenues 58 to 63 15.9
Investment in Proprietary R&D 36 to 41 7.3
EBIT -11 to -16 1.4
Cash, cash equivalents & marketable securities
as well as other financial assets as of March 31, 2014 380.4
21
Phase
3
Phase
1
Phase
2
Clinical Trials Scheduled for Completion
© MorphoSys - June 2014 22
2015 2014
Potential data events based on clinical trial design & MorphoSys estimates
Gantenerumab AD/Japan
CNTO3157 Asthma
Gantenerumab Bioavailability
Guselkumab Psoriasis
Bimagrumab Cachexia (COPD)
Guselkumab RA (vs. Stelara)
Bimagrumab Ventilated patients
Guselkumab Palmoplantar pustulosis
OMP-18R5 Breast cancer
OMP-18R5 NSCLC
CNTO6785 COPD
Bimagrumab sIBM
BI – 836845 Cancer
NOV-3 undisclosed
LJM716 Solid tumors/Mono
LJM716 Solid tumors/Combo
CNTO3157 Safety/PK
LFG316 MCP
CNTO6785 RA
OMP-18R5 Pancreatic cancer
BI – 836845 Cancer
MOR103 Multiple sclerosis
MOR208 B-ALL
MOR202 Multiple Myeloma
VAY736 Multiple Sclerosis
Bimagrumab Cachexia (Cancer)
LJM716 Solid tumors/Mono
Partnered Programs
MOR Programs
OMP59-R5 Solid tumors
BI – 836845
Cancer
BAY94-9343 (ADC) Solid tumors
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.
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Phone +49 (0)89 / 899 27-122
Fax +49 (0)89 / 899 27-5122
Email investors@morphosys.com
Thank You
www.morphosys.com