I-Mab signs $120 M deal with MorphoSys

German biotech MorphoSys has collaborated with Shanghai-based I-Mab Biopharma granting the latter an exclusive regional license to develop and commercialize MOR202 in China, Taiwan, China, Hong Kong, S.A.R., China and Macau, S.A.R., China.

I-Mab plans to start clinical development of MOR202 to treat patients with multiple myeloma in China in 2018. I-Mab will be assuming exclusive responsibility for all subsequent development and commercialization of MOR202 in the agreed territory.

MorphoSys will be receiving $120 million in upfront and milestone payments, with the first $20 million due for delivery right away and the remaining $100 million and tiered double-digit royalties to follow if MOR202 clears clinical and commercial milestones.

MOR202 is MorphoSys' proprietary investigational antibody against CD38, for which recruitment of a European Phase I/IIa clinical study in relapsed/refractory multiple myeloma has been concluded.

This partnership marks a latest addition to the China portfolio of clinical stage assets, which parallels with the global immuno-oncology portfolio of innovative biologics of I-Mab.