MorphoSys AG has acquired two privately held companies-Biogenesis Ltd. (Poole/UK) and its sister company Biogenesis Inc. (Brentwood, New Hampshire/USA).
Combined with MorphoSys' existing efforts in this area, the acquisition will establish MorphoSys as one of the top 5 European suppliers of research antibodies, the company hopes.
The final agreements, signed on January 20, 2005, specify the purchase of 100 per cent ownership of Biogenesis Ltd. and Biogenesis Inc. by MorphoSys for GBP 5.25 million, less net debt of approximately GBP 700,000, in cash. The two Biogenesis companies will become wholly owned subsidiaries of MorphoSys AG, according to the company release.
The acquisition of the Biogenesis group provides MorphoSys with immediate access to new market channels for its innovative HuCAL antibody technology. As the HuCAL technology provides a quantum leap in speed and flexibility over traditional antibody generation, the combined company will be able to deliver highly specific recombinant antibodies to customers significantly faster than existing animal-based methods. MorphoSys will continue to support Biogenesis's pre-existing portfolio of research products and at the same time utilize all opportunities to further market the HuCAL technology to Biogenesis's worldwide customer and global distributor network.
MorphoSys, founded in 1992, develops and applies innovative technologies for the production of synthetic antibodies, which accelerate drug discovery and target characterization.