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Fusion IP company strikes deal
Absynth Biologics, a company in the portfolio of Sheffield-based Fusion IP, has entered a licensing and collaboration agreement with MorphoSys. Sheffield-based Absynth will receive an upfront payment and is eligible for development-dependent milestone payments and royalties. Fusion IP commercialises research from the universities of Sheffield and Cardiff.
The collaboration will bring together Absynth’s expertise in infectious diseases such as MRSA and MorphoSys’ expertise in the generation of antibody drugs.
Simon Moroney, chief executive of MorphoSys, said: "Our goal is to create a valuable package of novel, proprietary targets together with high affinity antibodies, supported by compelling data, which will allow us to partner the program for subsequent development.
"The targets identified by Absynth represent a unique opportunity to generate value rather quickly and create out-licensing opportunities much earlier than in the areas of cancer and inflammation, which remain however the main focus areas for our discovery and development organization.”
Absynth chief executive Fiona Marston said: “The synergies between our technologies enhance the prospects of creating products to benefit patients suffering from S. aureus infections.”
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