Morphic to Get $20 Million as AbbVie Exercises License Option
August 25 2020 - 7:29AM
Dow Jones News
By Colin Kellaher
Morphic Holding Inc. on Tuesday said AbbVie Inc. has exercised
an option to develop its <ALPHA>(v) <BETA>(6) integrin
inhibitors for the treatment of fibrotic diseases, including
idiopathic pulmonary fibrosis and other indications.
The Waltham, Mass., biopharmaceutical company said it will
receive a $20 million license fee from AbbVie, along with potential
future development milestone payments and royalties from the sales
of any commercialized candidates.
Morphic said the license covers inhibitors discovered from its
proprietary MInT platform, including the compounds MORF-720 and
MORF-627.
AbbVie, a North Chicago, Ill., biopharmaceutical company, and
Morphic in 2018 formed a collaboration under which AbbVie made an
upfront payment of $100 million to Morphic for exclusive license
options on product candidates directed at multiple targets.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 25, 2020 07:14 ET (11:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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