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Morphic Announces Corporate Highlights and Financial Results for the Full Year 2020
March 01, 2021 06:55 ET | Source: Morphic Therapeutic
Announced positive preliminary results from Phase 1 SAD clinical trial of MORF-057
AbbVie exercised license option to αvβ6 integrin inhibitor program for fibrotic diseases
Expanded research and development collaboration with Janssen through third integrin program
Conference call today at 8:00 a.m. ET
WALTHAM, Mass., March 01, 2021 (GLOBE NEWSWIRE) -- Morphic Therapeutic (Nasdaq: MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today reported corporate highlights and financial results for the full year 2020.
2020 and Recent Corporate Highlights
Filed first IND of an oral integrin drug candidate, MORF-057, generated by Morphic’s MInT Platform and initiated first clinical study of MORF-057 in healthy volunteers in Phase 1 clinical trial of oral IBD candidate, MORF-057, after acceptance of IND by Food and Drug Administration
Announced positive preliminary results from Phase 1 single ascending dose portion of MORF-057 Phase 1 clinical trial including:
MORF-057 well tolerated in all five dose cohorts ranging from 25 mg to 400 mg
MORF-057 achieved greater than 95% mean receptor occupancy of α4β7 at the three highest dose levels
Phase 1 multiple ascending dose and food effect trials ongoing with full data anticipated to be presented mid-year 2021
Received $20 million payment upon AbbVie exercise of a license option under the companies’ research and development collaboration agreement to develop Morphic’s αvβ6 integrin inhibitors, including the compounds MORF-720 and MORF-627
Expanded research and development collaboration with Janssen through a third integrin program
Presented promising preclinic
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