Morphosys

In 2002, CAT and MorphoSys agreed to settle all patent disputes that were ongoing between the two companies. The settlement covered MorphoSys' past, present and future use and commercialisation of all versions of its HuCAL^® antibody libraries and related to all patents in the dispute between the two companies.

Under the terms of the agreement, CAT will receive an annual payment of €1 million for five years and other financial consideration from MorphoSys' activities related to its HuCAL libraries for a defined period of time. CAT will receive milestone and royalty payments under a licence for products successfully developed using HuCAL libraries. In addition, CAT received an equity stake of 588,160 ordinary shares in MorphoSys.

MorphoSys retained the option to buy out its obligations to CAT for a pre-defined fixed amount at any time during the duration of the agreement.