MorphoSys bags a peptide biotech for $22M

MorphoSys pulled the trigger on a deal for partner Lanthio Pharma, paying €20 million ($22 million) for the shares it didn't already own and picking up a handful of peptide candidates. The company, headquartered in the Netherlands, is at work on treatments for for diabetic nephropathy and fibrotic diseases, and its lead asset has shown promise in preclinical studies, MorphoSys said. Under the deal, the German drugmaker will acquire the roughly 80% of Lanthio it doesn't already have, planning to roll the company's lead drug into clinical development next year. More (PDF)

Suggested Articles

Preclinical-stage biotech Abpro Therapeutics wants to trial its two lead candidates for HER2-positive cancers and diabetic macular edema in 2019.

After a rough patch in 2017, the stars seem to be realigning for French CAR-T expert Cellectis, which just closed a $164 million U.S. public offering.

Investment firm Frazier Healthcare Partners has closed its 11th fund—worth $780 million—that will help established companies accelerate their growth.