Pharmaceutical firm MorphoSys has acquired one of its portfolio companies, Netherlands-based drug developer Lanthio Pharma, paying €20m ($22.5m) to acquire the 80% share it did not already own.
Lanthio develops lanthipeptides, therapeutics with a highly specified focus. Its lead compound, L2, is being developed to treat diabetic nephropathy and fibrotic diseases.
MorphoSys was one of the investors in Lanthio’s €4.8m series A round in 2012, which was co-led by BioGeneration Ventures and Inkef Capital, with participation from Hanzepoort.
Jens Holstein, Chief Financial Officer of MorphoSys, said: “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.
“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 startups to strengthen our drug development capabilities and enrich our proprietary drug portfolio.”