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)