Ab­b­Vie front­loads Mor­phic fi­bro­sis de­vel­op­ment deal with $100M in cash

A few weeks ago Mor­phic Ther­a­peu­tic came up with a big, $80 mil­lion round to ad­vance its work in­to the clin­ic. Now they’re fol­low­ing up with a ma­jor dis­cov­ery deal with Ab­b­Vie, where the deep-pock­et phar­ma gi­ant is pay­ing a whop­ping $100 mil­lion for a line on a port­fo­lio of oral fi­bro­sis drugs.

Most pre­clin­i­cal deals start small and in­clude some big mile­stones for suc­cess. It’s rare to see any dis­cov­ery pact come with such a hand­some up­front. But CEO Praveen Tipir­neni tells me that the stars and the biotech’s plat­form were all aligned for this deal.

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