Novo has co-led a series B round together with Omega Funds for Morphic Therapeutic, based on research by Harvard professor Timothy Springer.
US-based biotechnology developer Morphic Therapeutic closed an $80m series B round yesterday that was co-led by pharmaceutical firm Novo Holdings and investment firm Omega Funds.
Invus and EcoR1 Capital also contributed to the round, as did a range of unnamed, existing investors.
Founded in 2015, Morphic is developing therapies for fibrosis, vascular disorders and autoimmune diseases as well as immuno-oncology treatments. The drugs target integrins, protein receptors that control a wide range of cellular processes.
Morphic’s technology is based on research by Timothy Springer, a professor at Harvard University and Boston Children’s Hospital. It has also formed a strategic partnership with chemical simulation software producer Schrödinger to facilitate the design of clinical candidates.
The funding will help advance two assets through the proof-of-concept stage and move several candidates into clinical trials.
Nilesh Kumar, partner at Novo’s corporate venturing arm, Novo Ventures, and Otello Stampacchia, managing…
