MorphoSys acquires peptide therapeutic company Lanthio Pharma
Posted: 8 May 2015 | Victoria White
MorphoSys has acquired Lanthio Pharma. The acquisition adds novel candidates including a pre-IND candidate for fibrotic diseases to MorphoSys’s portfolio…
MorphoSys has acquired all outstanding shares of the Dutch biopharmaceutical company Lanthio Pharma.
The transaction brings Lanthio Pharma’s lead compound LP2, a novel lanthipeptide in development for diabetic nephropathy and fibrotic diseases to MorphoSys’s growing proprietary portfolio. LP2, which will be re-named MOR107, has demonstrated potent angiotensin II type 2 (AT2) receptor-dependent activity in vivo, and is planned to enter clinical trials in 2016. LP2 is the most advanced of four lanthipeptides in Lanthio Pharma’s portfolio. In this context, MorphoSys reconfirmed its updated financial guidance issued on March 26, 2015.
MorphoSys will pay EUR 20 million to acquire outstanding share capital of Lanthio Pharma
Prior to the acquisition, MorphoSys held 19.98% of Lanthio Pharma. MorphoSys will pay EUR 20 million to acquire the outstanding share capital of Lanthio Pharma from the other investors, among them INKEF Capital, BioGeneration Ventures and Hanzepoort.
“The acquisition of Lanthio Pharma adds a very attractive compound to our growing proprietary portfolio. The lead compound LP2 has the potential to be a first-in-class treatment for various fibrotic diseases and thus represents a commercially attractive opportunity”, commented Dr. Simon Moroney, Chief Executive Officer of MorphoSys. “We have followed developments at Lanthio Pharma closely since the beginning of our relationship. Now is the optimal time for this transaction to secure the development of this potentially exciting asset.”
“We have enjoyed a very productive relationship with Lanthio Pharma since 2012 and are therefore delighted to work even closer with Lanthio’s experienced staff on developing LP2 and identifying additional novel innovative therapeutic peptides,” said Jens Holstein, Chief Financial Officer of MorphoSys AG. “Today’s news marks another milestone for our Innovation Capital initiative that led to this acquisition. We will continue to look for opportunities to invest and collaborate with biopharmaceutical start-ups to strengthen our drug development capabilities and enrich our proprietary drug portfolio.”
Dr. Heinz Schwer, Chief Executive Officer of Lanthio Pharma, added, “The acquisition of Lanthio Pharma with its exciting preclinical programs is the final conclusion of a trustful business relationship over three years. We very much look forward to working within MorphoSys to advance our programs and act as an innovative source of new treatment options for patients.”