latest news releases from the newsroom
Daiichi Sankyo and MorphoSys Expand Collaboration With Two New Cancer-Related Antibody Programs
MARTINSRIED, Germany, May 18, 2009 (GLOBE NEWSWIRE) -- MorphoSys AG (Frankfurt:MOR) (Prime Standard Segment, TecDAX) announced today the start of a further two oncology-focused therapeutic antibody programs within its collaboration with DAIICHI SANKYO COMPANY, LIMITED (Tokyo Stock Exchange:4568) (hereinafter Daiichi Sankyo). By exercising two options available under the parties' existing agreement, Daiichi Sankyo has selected two new target molecules against which MorphoSys will generate antibodies using its proprietary HuCAL technology. Daiichi Sankyo will carry out pre-clinical and clinical development and has worldwide marketing rights for all resulting products. MorphoSys receives exclusive license fees and stands to receive milestones and royalties for the therapeutic antibody programs, as per the terms of the companies' existing agreement. Further financial details were not disclosed.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of Foundation Coal Holdings, Inc.
NEW YORK, May 16, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Foundation Coal Holdings, Inc. ("Foundation" or the "Company") (NYSE:FCL) arising out of their attempt to agree to merge with Alpha Natural Resources ("Alpha") to form a new company (the "Surviving Corporation"). Under the terms of the agreement, shareholders of Foundation will receive 1.084 shares of the Surviving Corporation (or approximately $32.73 per share) for each share of Foundation they own, or approximately $1.4 billion in the aggregate. The transaction is unfair and could be the result of an unfair process, given that, among other things, the Company's shares traded above $88 per share as recently as July 2008. The proposed acquisition is subject to customary conditions and regulatory approvals.