Jefferies 2014 Global Healthcare Conference Company Update June 4, 2014 © MorphoSys - June 2014 Safe Harbour This presentation includes forward-looking statements. Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties including changes in business, economic competitive conditions, regulatory reforms, foreign exchange rate fluctuations and the availability of financing. These and other risks and uncertainties are detailed in the Company’s Annual Report. © MorphoSys - June 2014 2 Introduction to MorphoSys MorphoSys is committed to developing a valuable pipeline of truly differentiated therapeutic antibodies built using proprietary technologies. Exciting proprietary assets MOR103, MOR202 & MOR208 Broad partnered pipeline based on proprietary HuCAL technology Strong balance sheet and recurring cash-flows support investment in R&D © MorphoSys - June 2014 3 The MorphoSys Pipeline 20 Clinical Programs, 83 Total Program Bimagrumab (BYM338) Gantenerumab MOR103 MOR208 BHQ880 CNTO3157 CNTO6785 Guselkumab (CNTO1959) LFG316 LJM716 NOV – 3 OMP-59R5 VAY736 MOR202 BAY94-9343 BI – 836845 NOV – 7 NOV – 8 PF-05082566 Vantictumab (OMP-18R5) Partner Novartis Roche GSK Novartis Janssen Janssen Janssen Novartis Novartis Novartis OncoMed Novartis Celgene Bayer BI Novartis Novartis Pfizer OncoMed Target ActRIIB Amyloid-ß GM-CSF CD19 DKK-1 IL23p19 C5 HER3 Notch 2 BAFF-R CD38 Mesothelin (ADC) IGF-1 4-1BB Fzd 7 Disease Area Musculoskeletal CNS Inflammation Cancer Cancer Inflammation Inflammation Inflammation Ophthalmology Cancer not discl. Cancer Inflammation Cancer Cancer Cancer Ophthalmology Inflammation Cancer Cancer 24 Programs Various - Various 39 Programs Various - Various © MorphoSys - June 2014 Most advanced development stage Discovery Preclinic Phase 1 Phase 2 Phase 3 77 Partnered Programs 6 MOR Programs 4 Pipeline Programs: Business Structure Partner Programs MOR Programs Partner provides target MorphoSys selects program at MorphoSys technology used to develop optimized antibody lead candidate target stage (discovery) or later (in-licensing) Partner responsible for development and commercialization MorphoSys is fully responsible for pre-clinical and clinical development MorphoSys receives milestone & royalties Various partnering strategies Partner Discovery © MorphoSys - June 2014 Partnering Market Discovery Market 5 INNOVATIVE PRODUCT PIPELINE © MorphoSys - June 2014 6 The MorphoSys Proprietary Portfolio Program Partner Target Indication Discovery Preclinic Phase 1 Phase 2 Phase 3 Fully partnered (tiered, double-digit royalties) MOR103 GSK GM-CSF Rheumatoid Arthritis Multiple Sclerosis Co-development & Co-promotion MOR202 Celgene CD38 Multiple Myeloma CD19 ALL Un-partnered MOR208 NHL CLL (IST) 3 Programs © MorphoSys - June 2014 Various 7 Two Programs Partnered in Lucrative Deals with Celgene and GSK MOR103 MOR202 Out-licensed on Phase 1b/2a data in RA Global co-development and European co-promotion agreement GSK Responsible for development and commercialization of MOR103 in all indications MorphoSys receives EUR 22.5 million upfront payment Up to EUR 423 million in success-based payments Tiered, double-digit royalties on net sales © MorphoSys - June 2014 Costs: 1/3 MorphoSys, 2/3 Celgene Upfront payment of EUR 70.8m Equity investment of EUR 46.2m Up to EUR 511m in development, regulatory and sales milestones Co-promotion in Europe with 50:50 profit share Exclusive Celgene in rest-of-world, tiered double digit royalties to MOR 8 MOR103 Novel Mode of Action in Rheumatoid Arthritis Results from Phase 1b/2a Trial in RA DRUG - DAS28 Scores over 16 weeks - GM-CSF is a key inflammatory mediator in RA and other inflammatory conditions DIFFERENTIATION Targets monocytes & macrophages Ultra-high affinity Fast onset of therapeutic effect Mean change from baseline HuCAL IgG1 targeting GM-CSF STATUS Phase 1b/2a trial in RA patients showed excellent efficacy, durable response & clean safety profile Very fast onset of therapeutic effect Phase 1b in MS completed Durable response Global license agreement with GSK Clean safety profile Week Administration of MOR103 © MorphoSys - June 2014 9 MOR202 A Novel Antibody for Multiple Myeloma DRUG High affinity HuCAL antibody targeting CD38 MOR202 Combination with Lenalidomide Significantly Prolongs Survival in a Ramos in Vivo Mouse Model Binds to a unique epitope DIFFERENTIATION Induces ADCC and ADCP Strong synergy with lenalidomide & bortezomib in pre-clinical models 2 hour infusion STATUS Phase 1/2a trial in relapsed or refractory MM patients ongoing Further clinical studies, including combos, being planned Global co-development and European co-promotion agreement with Celgene Taken from poster presented at ASH 2012 - Abstract #4018 © MorphoSys - June 2014 10 MOR208 A Novel Antibody to Treat B-cell Malignancies DRUG Fc-enhanced, humanized antibody targeting CD19 Best Responses (Phase 1 in CLL – presented@ASH2012) 0.3 1 3 6 9 12 Total (%) mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg In-licensed from Xencor Responses by NCI96 criteria (physical exam) DIFFERENTIATION Complete Response Partial Response Stable Disease Progressive Disease Unknown Fc modification leads to dramatically enhanced B-cell depletion Convenient dosing schedule Straightforward manufacturing STATUS Phase 2 ALL: 30 R/R patients Phase 2 NHL: Up to 30 R/R patients each in FL, MCL, DLBCL & other indolent NHL Phase 2 CLL: Lenalidomide combo in R/R CLL and untreated CLL patients (IST – Investigator sponsored trial by OSU) © MorphoSys - June 2014 1 1 2 1 1 1 3 0 12 4 2 1 1 1 1 2 1 1 14 0 18 (66.7) 8 (29.6) 0 1 (3.7) Response by IWCLL 2008 criteria (CT scan) Complete Response Partial Response Stable Disease Progressive Disease Unknown 1 1 0 4 (14.8) 20 (74) 2 (7.4) 1 (3.7) Preliminary Phase 2a Results (CLL) Overall response Total Phase 1 4 (15%) 27 Phase 2a 8 (30%) 27 11 Partnered Clinical Pipeline (I) Program Bimagrumab (BYM338) Partner Novartis Target ActRIIB BHQ880 Novartis DKK-1 LFG316 Novartis C5 NOV-3 VAY736 Novartis Novartis n.d. BAFF-R LJM716 Novartis HER3 NOV-7 NOV-8 Novartis Novartis n.d n.d © MorphoSys - June 2014 Indication sIBM Cachexia (Cancer) Sarcopenia Mechanically ventilated Cachexia (COPD) MM (renal insufficiency) Smoldering MM Wet AMD Geographic Atrophy MCP n.d. Pemphigus Vulgaris Primary Sjögren's Syndrome RRMS ESCC Head & Neck Squamous Cell Carcinoma HER2+ Cancer HER2+ Cancer combination with trastuzumab Solid Tumors Eye Disease Inflammation Phase 1 Phase 2 Phase 3 12 Partnered Clinical Pipeline (II) Program Gantenerumab Guselkumab (CNTO1959) CNTO3157 CNTO6785 OMP-59R5 Vantictumab (OMP-18R5) BAY94-9343 BI-836845 PFE-05082566 Partner Roche Indication Prodromal AD Mild AD Genetically predisposed Japanese AD patients Biovailability Janssen/J&J IL23p19 Psoriasis Rheumatoid Arthritis Palmoplantar Pustulosis Janssen/J&J n.d. Asthma Safety/Pharmacokinetic Janssen/J&J n.d. COPD Rheumatoid Arthritis Oncomed/GSK Notch 2 Pancreatic Cancer Small Cell Lung Cancer Solid Tumors Oncomed/Bayer Fzd 7 Solid Tumors Breast Cancer Pancreatic Cancer NSCLC Bayer Mesothelin Solid Tumors BI IGF-1 Cancer Cancer Cancer Pfizer 4-1BB Solid Tumors, NHL © MorphoSys - June 2014 Target Amyloid-ß Phase 1 Phase 2 Phase 3 13 Bimagrumab (BYM338) A Novartis Musculoskeletal Program DRUG HuCAL antibody against ActRIIB FDA breakthrough therapy designation for sporadic inclusion body myositis (sIBM) Orphan drug designation in sIBM DIFFERENTIATION Novel mechanism of action Phase 2 study showed that bimagrumab substantially benefited patients with sIBM STATUS Pivotal study in sIBM ongoing Phase 2 studies ongoing in: Cancer-related cachexia COPD-related cachexia Sarcopenia Mechanically ventilated patients Listed by Novartis as “planned filing 2016” M. Schuelke at al, N Engl J Med 2004;350:2682-8 © MorphoSys - June 2014 14 Gantenerumab A Roche Alzheimer’s Disease Program DRUG Binds N-terminus and middle of peptide DIFFERENTIATION Binds/disrupts amyloid plaque and oligomers; binds peptide only weakly Gantenerumab reduces brain amyloid 3x faster than other amyloid-targeting substances in mild-tomoderate AD patients STATUS Phase 3 SCarlet RoAD trial with 770 prodromal patients (2 doses, 104 weeks on drug) Data expected in 2016 % Amyloid change from baseline HuCAL antibody against amyloid-ß Data from Phase 1 Effect of gantenerumab on amyloid load as indexed by PET SUVR at end of treatment Phase 3 Marguerite RoAD trial with 1,000 patients with mild AD Estimated study completion date: 03/2019 Phase 3 DIAN network trial in genetically predisposed patients © MorphoSys - June 2014 Data: Courtesy of Roche 15 Guselkumab (CNTO1959) A Janssen Anti-Inflammatory Program DRUG HuCAL antibody against IL-23 DIFFERENTIATION Guselkumab binds the p19 sub-unit of IL-23, while Stelara binds the p40 sub-unit of IL-23 and IL-12 Higher specificity through selected inhibition of IL-23 may provide better risk/benefit profile STATUS Phase 2 study in psoriasis successfully completed, J&J plans to start phase 3 Two additional Phase 2 studies ongoing: Active rheumatoid arthritis Palmoplantar pustulosis Listed under “planned filings 2013 – 2017” (J&J analyst day 2013) Source: Jetten AM, Nucl Recept Signal, 2009 © MorphoSys - June 2014 16 Guselkumab Shows Significant Efficacy in Treatment of Moderate to Severe Plaque Psoriasis Results at week 16 presented at the 2014 AAD (phase 2b X-PLORE study) Up to 86% of psoriasis patients achieved a Physician's Global Assessment (PGA) score of cleared or minimal at week 16 (primary endpoint) Significantly higher levels of efficacy at all doses studied compared to placebo group Safety Two serious infections in patients receiving guselkumab One guselkumab-treated patient reported a malignancy Three cardiovascular [CV] events in guselkumab-treated patients: one fatal myocardial infarction [MI], one nonfatal MI, one cerebrovascular accident, all patients had multiple pre-existing CV risk factors @Week 16 Placebo 5 mg 50 mg 200 mg at week 0, 4, then every 12 weeks 15 mg 100 mg Adalimumab every 8 weeks PGA score (cleared (0) or minimal (1) disease) 7% 34% 79% 83% 61% 86% 58% PASI 75 5% 44% 81% 81% 76% 79% 70% PASI 90 2% 34% 45% 57% 34% 62% 44% AEs (SAEs) in % 50 (1) © MorphoSys - June 2014 50 (2) 56 (2) 17 Highlighted Programs All Have Blockbuster Potential Program Indication Forecast Peak Sales* MOR103 Rheumatoid Arthritis $3.2bn MOR202 Multiple Myeloma $2.1bn MOR208 NHL CLL ALL $790m $350m $250m $1.4bn Bimagrumab sIBM Cancer cachexia Ventilated patients COPD Cachexia Sarcopenia $400m $1.3bn $600m $1.0bn $1.6bn $4.9bn Gantenerumab Alzheimer’s Disease $15bn Guselkumab Psoriasis Rheumatoid Arthritis $950m $1.6bn $2.6bn * Based on an external study by Defined Health using publicly available information © MorphoSys - June 2014 18 FINANCIALS © MorphoSys - June 2014 19 Shareholdings Shareholdings by Investor Type Stock Information Institutional Investors - 67% Prime Standard, TecDAX Retail Investors 22% FSE: MOR (ISIN: DE0006632003) Novartis - 5% OTC: MPSYY Celgene - 3% Ticker: Treasury Stock - 1% Management & Supervisory Boards - 2% Bloomberg: MOR:GR Reuters: MORG.DE Thomson ONE: MOR-XE Shares issued: 26,220,882 (March 31, 2013) Fully diluted number of shares: 26,987,681 (March 31, 2013) 3% 5% 22% 67% © MorphoSys - June 2014 20 Key Financials in EUR million Guidance 2014 Q1 2014 Group Revenues 58 to 63 15.9 Investment in Proprietary R&D 36 to 41 7.3 -11 to -16 1.4 EBIT Cash, cash equivalents & marketable securities as well as other financial assets as of March 31, 2014 © MorphoSys - June 2014 380.4 21 Phase 3 Clinical Trials Scheduled for Completion Bimagrumab sIBM Bimagrumab Phase 2 Cachexia (Cancer) Guselkumab RA (vs. Stelara) Guselkumab MOR208 Bimagrumab B-ALL Cachexia (COPD) Bimagrumab CNTO6785 VAY736 Ventilated patients RA Multiple Sclerosis NOV-3 Guselkumab CNTO6785 LFG316 undisclosed Palmoplantar pustulosis COPD MCP MOR202 BAY94-9343 (ADC) Multiple Myeloma Solid tumors Psoriasis LJM716 OMP59-R5 Bioavailability Solid tumors/Mono Solid tumors CNTO3157 Phase 1 Gantenerumab MOR103 BI – 836845 OMP-18R5 Asthma Cancer Pancreatic cancer CNTO3157 BI – 836845 OMP-18R5 Safety/PK Cancer NSCLC LJM716 LJM716 BI – 836845 OMP-18R5 Solid tumors/Mono Solid tumors/Combo Cancer Breast cancer Multiple sclerosis Gantenerumab AD/Japan 2014 Potential data events based on clinical trial design & MorphoSys estimates © MorphoSys - June 2014 2015 Partnered Programs MOR Programs 22 Thank You www.morphosys.com Dr. Claudia Gutjahr-Löser Head of Corporate Communications & IR Phone +49 (0)89 / 899 27-122 Fax +49 (0)89 / 899 27-5122 Email [email protected] HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla® , Ylanthia® and 100 billion high potentials® are registered trademarks of MorphoSys AG. Slonomics® is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.
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