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)

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