After out-licensing its mid-stage rheumatoid arthritis drug candidate MOR103 to GlaxoSmithKline earlier in June 2013, MorphoSys has secured Celgene as a global co-development and commercialisation partner for its CD38-targeted human monoclonal antibody MOR202, which is in Phase I/IIa development for relapsed/refractory multiple myeloma. As part of the deal, Celgene will invest up to €46.2 M (US$61 M) to acquire an equity stake in MorphoSys. The deal will help the antibody developer in its aspiration to evolve into a commercial-stage biopharmaceutical company, providing it with co-promotion rights to the drug candidate in Europe.