MorphoSys Appoints Sung Lee as Chief Financial Officer
MorphoSys has appointed Sung Lee as Chief Financial Officer, effective February 2, 2021. He takes over from Jens Holstein, who resigned in December 2020. Lee, bringing over 20 years of financial leadership experience, previously served as CFO at Sangamo Therapeutics and held key roles at Gilead Sciences. His appointment is timely as MorphoSys aims to enhance its presence in hematology-oncology and autoimmune diseases. The management believes Lee's expertise will support its ambitious growth strategy and help advance its clinical pipeline.
- Sung Lee's extensive experience in finance could enhance MorphoSys's financial performance.
- His appointment aligns with MorphoSys's goal to strengthen its leadership during its first commercial launch.
- Transitioning leadership may introduce initial disruptions or require time for acclimatization.
PLANEGG/MUNICH, GERMANY / ACCESSWIRE / January 6, 2021 / MorphoSys AG (FSE:MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ:MOR), a commercial-stage biopharmaceutical company and a leader in antibody, protein and peptide technologies, announced today the appointment of Sung Lee as Chief Financial Officer, effective February 2, 2021. Mr. Lee succeeds Jens Holstein, who stepped down in December 2020, and will lead all corporate finance functions as a member of the Management Board of MorphoSys AG. He will be based in Planegg, Germany.
Sung Lee
"I am delighted to welcome Sung to MorphoSys while the company executes on its first commercial launch and is establishing itself as an emerging leader in hematology-oncology and autoimmune diseases," said Marc Cluzel, M.D., Ph.D., Chairman of the MorphoSys Supervisory Board. "Sung will bring a wealth of experience to the Management Board based on his excellent track record in scaling organizations and leading finance and investor relations functions in the U.S. and Europe."
Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys, added: "Throughout his career, Sung has demonstrated tremendous talent in driving financial performance and serving as a strategic thought partner. We are convinced that Sung's transformative mindset will be instrumental in executing our ambitious growth strategy and the accelerated development of our pipeline for the benefit of patients."
"I am thrilled to join MorphoSys and become part of a team that has proven its ability to make a real difference for people suffering from cancer," said Sung Lee. "MorphoSys is a prime example of an R&D-focused company that has successfully evolved into a commercial-stage company, and I am very excited to help shape its future growth."
Sung Lee has more than 20 years of finance leadership experience in biopharmaceutical and technology businesses. Mr. Lee joins MorphoSys from Sangamo Therapeutics, Inc., where he served as Chief Financial Officer. Prior to that role, Mr. Lee spent nearly 14 years at Gilead Sciences where he most recently led the global Financial Planning & Analysis and Investor Relations functions.
Mr. Lee started his career in the tax advisory business at PriceWaterhouseCoopers LLP. He received a Master of Business Taxation from the University of Southern California and a B.A. in Economics from the University of California, Irvine.
About MorphoSys
MorphoSys is a commercial-stage biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies for patients suffering from cancer and autoimmune diseases. Based on its leading expertise in antibody, protein and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, of which 27 are currently in clinical development. In 2017, Tremfya®, developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc., for the treatment of plaque psoriasis, became the first drug based on MorphoSys' antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration (FDA) granted accelerated approval of the company's proprietary product Monjuvi® (tafasitamab-cxix) in combination with lenalidomide in patients with a certain type of lymphoma.
Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has more than 600 employees. More information at www.morphosys.com or www.morphosys-us.com.
Monjuvi® and HuCAL® are registered trademarks of MorphoSys AG.
Tremfya® is a registered trademark of Janssen Biotech, Inc.
MorphoSys Forward-Looking Statements
This communication contains certain forward-looking statements concerning the MorphoSys group of companies, including the expectations regarding Monjuvi's ability to treat patients with relapsed or refractory diffuse large B-cell lymphoma, the further clinical development of tafasitamab-cxix, including ongoing confirmatory trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab-cxix as well as the commercial performance of Monjuvi. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "would," "could," "potential," "possible," "hope" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys' results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Among the factors that may result in differences are MorphoSys' expectations regarding risks and uncertainties related to the impact of the COVID-19 pandemic to MorphoSys' business, operations, strategy, goals and anticipated milestones, including its ongoing and planned research activities, ability to conduct ongoing and planned clinical trials, clinical supply of current or future drug candidates, commercial supply of current or future approved products, and launching, marketing and selling current or future approved products, the global collaboration and license agreement for tafasitamab, the further clinical development of tafasitamab, including ongoing confirmatory trials, and MorphoSys' ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab-cxix as well as the commercial performance of Monjuvi, MorphoSys' reliance on collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys' Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.
For more information, please contact:
Media Contacts: Thomas Biegi Vice President Tel.: +49 (0)89 / 89927 26079 | Investor Contacts: Dr. Julia Neugebauer Senior Director Tel: +49 (0)89 / 899 27 179 |
Jeanette Bressi Director, US Communications Tel: +1 617-404-7816 | Myles Clouston Senior Director Tel: +1 857-772-0240 |
SOURCE: MorphoSys AG
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