Morphic Therapeutic (NASDAQ:MORF) announces that collaboration partner and licensee AbbVie (NYSE:ABBV) has exercised its option to develop its αvβ6 integrin inhibitors for the treatment of fibrotic diseases, including idiopathic pulmonary fibrosis (IPF) and additional indications.
The license covers αvβ6 integrin specific inhibitors discovered from Morphic’s proprietary MInT Platform, including the compounds MORF-720 and MORF-627.
AbbVie’s decision triggers a $20M license fee to Morphic, which will also be eligible for future development milestones and royalties on net sales of commercialized products.
Morphic received $100M upfront under the terms of their original agreement.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.