MorphoSys Has Closed The Transaction of Selling Its AbD Serotec Segment to Bio-Rad

Germany based MorphoSys has closed the transaction of selling its AbD Serotec segment to Bio-Rad.

Transfer of all assets and liabilities of MorphoSys'research and diagnostic antibody segment,the AbD Serotec,in addition to all shares of the subsidiaries MorphoSys UK Ltd.,MorphoSys AbD GmbH and MorphoSys US,Inc.to Bio-Rad were completed.

MorphoSys chief financial officer Jens Holstein said the company reached the closing of the transaction just after a short time after the announcement was made.

"With the divestment of AbD Serotec completed,MorphoSys can devote 100%of its attention to building value in its core therapeutics business,"Holstein added.