The Johns Hopkins spinout has passed a clinical milestone to trigger the final part of a series B round backed by Osage University Partners.

Blade Therapeutics, a US-based fibrosis treatment developer spun out from Johns Hopkins University, yesterday secured the final tranche of the $45m series B round it announced in June 2016.

Healthcare investment firm Deerfield Management led the round, which included spinout-focused investment firm Osage University Partners as well as MPM Capital and pharmaceutical firms Pfizer, Novartis and Bristol-Myers Squibb.

Pfizer took part through its corporate venturing arm, Pfizer Venture Investments, while Novartis participated through its Novartis Institutes of Biomedical Research…