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MorphoSys Acquired Constellation Pharmaceuticals at $1.7B

As part of MorphoSys $1.7 billion acquisition of Constellation Pharmaceuticals, Royalty Pharma plc, and MorphoSys AG today announced a $2.025 billion strategic funding collaboration. This collaboration is expected to help the merged company expand its capabilities, allowing for the development and potential approval of significant cancer medicines.

The acquisition of MorphoSys‘ rights to receive future royalties on Janssen’s Tremfya by Royalty Pharma is the foundation of this finance relationship (guselkumab). Tremfya is an anti-interleukin (IL)-23 licensed to treat individuals with moderate to severe plaque psoriasis and active psoriatic arthritis, as well as ulcerative colitis and Crohn’s disease. It is also being tested in clinical trials for ulcerative colitis and Crohn’s disease. Tremfya expects to make $1.347 billion in revenues in 2020.

Royalty Pharma will also get the rights to royalties and certain milestone payments on four promising early-stage treatments. Roche is developing Gantenerumab, an anti-amyloid-beta monoclonal antibody, for Alzheimer’s disease in Phase 3. Royalty Pharma will pay MorphoSys $60 million for the right to receive 60% of future royalties on Gantenerumab.

GlaxoSmithKline is developing otilimab, an entirely human monoclonal antibody that inhibits granulocyte-macrophage colony-stimulating factor (GMCSF), in Phase 3 for rheumatoid arthritis. MorphoSys will sell the rights to receive 80% of future royalties and 100% of future milestones on otilimab to Royalty Pharma.

Constellation is developing Pelabresib, a bromodomain and extra-terminal (BET) inhibitor for myelofibrosis. Royalty Pharma will pay $3 million for the right to get 3% of pelabresib’s future net sales. Constellation is developing CPI-0209, a second-generation enhancer of zeste homolog 2 (EZH2) inhibitor, for hematological malignancies and solid tumors in Phase 2. Royalty Pharma will purchase the rights to receive 3% of future net sales of CPI-0209.

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