BUZZ-Emergent BioSolutions Inc: To develop cancer drug with MorphoSys

Wed Aug 20, 2014 6:56am EDT
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** Drugmaker's shares up 21 pct at $28.42 premarket

** Signs agreement with Germany's MorphoSys AG to develop and market its antibody targeting prostate cancer cells

** Emergent to get upfront payment of $20 million and potential milestone payments of up to $163 million

** Plans to start early-stage trial in prostate cancer patients within six months

** Emergent to get marketing rights in North America and MorphoSys in the rest of the world