MorphoSys, Vivoryon Enter Deal On Small Molecule Inhibitors Of CD47-SIRP

(RTTNews) - MorphoSys AG (MOR, MPSYY.PK) and Vivoryon Therapeutics said that they reached an agreement by which MorphoSys has obtained an exclusive option to license Vivoryon's small molecule QPCTL inhibitors in the field of oncology.

The option covers worldwide development and commercialization for cancer of Vivoryon's family of inhibitors of the glutaminyl-peptide cyclotransferase-like or QPCTL protein, including its lead compound PQ912.

In exchange, MorphoSys has committed to investing up to 15 million euros in a minority stake in Vivoryon Therapeutics as part of a capital raise planned for later this year.

During the option period, MorphoSys will conduct preclinical validation experiments on Vivoryon's family of QPCTL inhibitors, including an assessment of the potential benefits of combining them with MorphoSys's proprietary program tafasitamab, which is currently in late-stage development for the treatment of relapsed/refractory diffuse large B-cell lymphoma.

If MorphoSys chooses to exercise the option, Vivoryon Therapeutics will receive an option fee, and is eligible for milestone payments and royalties.