Morphic Therapeutic received USD 80 million for a new therapy.It concerns oral and small-molecule formulations related to receptors present in the cell surface.In case of failure, the therapy will be employed to the treatment of inflammations, fibroses or cardiometabolic diseases and tumours.
The round B of financing was co-led by Omega Funds and Novo Holdings - the parent company of Novo Nordisk and Novozymes.Along with the investment, both Otello Stampacchia (the managing director of Omega Funds) and Nilesh Kumar (the partner of Novo Ventures) have joined the board of the Morphic company.
Praveen Tipirneni, the president and CEO of Morphic Therapeutic, said that the company has made exceptional progress in establishing what they believe to be the world's most extensive therapy employing integrin receptors over the past two years.
Historically speaking, companies having previously developed compounds aimed at inhibiting the activity of integrin actually produced compounds that stimulated it. The reason is that the integrin receptor has three different combinations, one of them being an antagonist. It has already resulted in failures of a few oral drug candidates of this kind.What Tim Springer, the scientific leader, and the Morphic team think now is that they have discovered a path to create a proper preparation that will work - unlike the previous ones.