Pharmaceutical developer MorphoSys has entered into a global agreement with GlaxoSmithKline to develop and commercialize MOR103, MorphoSys's proprietary HuCAL-derived antibody against GM-CSF, which has concluded phase I/II development in mild to moderate rheumatoid arthritis.

GSK assumes responsibility for all subsequent development and commercialization of MOR103. MorphoSys receives an immediate upfront payment of approximately $29.4 million dollars. On achievement of certain developmental, regulatory, commercial and sales-based milestones, MorphoSys would be eligible to receive additional payments from GSK of up to $554 million, in addition to tiered, double-digit royalties on net sales.

"The preclinical and clinical data we have generated show that MOR103 has the potential to offer new treatment options for rheumatoid arthritis,” said Dr. Arndt Schottelius, chief development officer of MorphoSys.

MOR103 has concluded a phase I study in healthy volunteers and a phase I/II clinical trial in mild to moderate rheumatoid arthritis patients. Additionally, MOR103 currently is being evaluated in a phase Ib dose-escalation safety study in multiple sclerosis.