Ad-hoc | 23 December 2002 07:30

MorphoSys AG english

MorphoSys and CAT Settle Patent Disputes Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MorphoSys and CAT Settle Patent Disputes MorphoSys AG (Neuer Markt: MOR) and Cambridge Antibody Technology (LSE: CAT; NASDAQ: CATG) today announced that they have agreed to settle all patent disputes between the two companies. The settlement agreement covers MorphoSys’ past, present and future use and commercialisation of all versions of its HuCAL libraries, including the most recent development, HuCAL GOLD and relates to all patents in the ongoing disputes between the two companies. This includes litigation in the United States regarding CAT’s Griffiths, McCafferty, Winter II and Winter/Lerner/Huse patents as well as oppositions launched by MorphoSys at the European Patent Office against CAT’s Winter II and McCafferty patents. The companies have agreed to terms under which MorphoSys will be free to develop and commercialise its HuCAL technologies. CAT undertakes not to sue MorphoSys in relation to present HuCAL GOLD libraries and all future derivatives thereof. In addition, MorphoSys will receive a licence to the CAT patent estate in respect of previous HuCAL libraries. CAT will receive an annual payment of EUR 1 million over the next five years. It will also receive other financial consideration from MorphoSys’ activities related to its HuCAL GOLD libraries for a defined period of time. CAT will receive milestone and royalty payments under the licence for products developed using previous HuCAL libraries. In addition, CAT will receive an equity stake of 588,160 ordinary shares in MorphoSys under the licence agreement. MorphoSys retains the option to buy out its obligations to CAT for a pre-defined fixed amount at any time during the duration of the agreement. end of ad-hoc-announcement (c)DGAP 23.12.2002 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 230730 Dez 02