Morphimmune, a preclinical biotech startup developing small molecule therapeutics, is merging with publicly listed biotech company Immunome. The deal includes a private placement investment of $125M from Enavate Sciences, EcoR1 Capital, Redmile Group, Janus Henderson Investors, Avidity Partners, and Woodline Partners. Post completion of the transaction, Morphimmune will drop its brand name and continue as Immunome. - Morphimmune's CEO, Clay Siegall, will serve as the CEO, president, and chairman of the merged entity.
- Siegall previously co-founded and led the biotech firm Seagen.
- Earlier this March, Pfizer announced it would acquire Seagon for $43B.
- Morphimmune spun out from Purdue University. It has since raised $32M from unnamed investors.
- Post the merger, Morphimmune's investors will receive 45% shares of the merged entity, while Immunome's stockholders will get a 55% stake in the combined company.
- The firm intends to move three new drug candidates to clinical trial phases within 18 months of the closing of the merger transaction.
|
