Sloning BioTechnology, a subsidiary of MorphoSys, and Pfizer have signed a non-exclusive license and technology transfer agreement.
The agreement covers the installation, training and use of Sloning’s technology platform Slonomics for fabrication of highly-diverse gene and protein libraries at Pfizer’s subsidiary Rinat Neuroscience Corp. in South San Francisco.
Under the agreement, the MorphoSys subsidiary will receive an upfront payment in 2010, and stands to receive annual license fees over the patent lifetime of the Slonomics technology platform.
MorphoSys CEO Simon Moroney said the alliance around the Slonomics technology after they closed the acquisition of Sloning, clearly illustrates the potential value of the platform.
"This alliance with Pfizer creates immediate value for our shareholders and is just the beginning of what we expect to be a considerable return-on- investment from the combined technology platforms of MorphoSys and Sloning in the years ahead," Moroney said.
Sloning’s Slonomics technology enables the precise construction of protein libraries comprising defined mixtures of amino acids at pre- determined positions with more speed.
The technology provides a new and flexible approach to generate optimised proteins.