MorphoSys plans private placement of stock

By Sheri Kasprzak

New York, March 28 - MorphoSys AG said it intends to complete a private placement of its shares.

The pricing terms have not yet been determined, but the deal includes 384,338 shares offered to institutional investors.

WestLB AG is the bookrunner for the deal with DZ Bank AG as co-agent.

Proceeds will be used for the expansion of the company's antibody program and for sales growth.

Based in Munich, MorphoSys develops synthetic antibodies used to accelerate drug discovery and target characterization.

On Tuesday, the stock lost €1.10 to close at €44.90 (Frankfurt: MOR).

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