UPDATE 1-Gossamer Bio and Chiesi Group to collaborate in therapy for lung condition

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May 6 (Reuters) - Gossamer Bio said on Monday it will collaborate with Italian drugmaker Chiesi Group to develop and commercialize its therapy seralutinib in multiple indications related to high blood pressure due to constriction of lung arteries.

The therapy is currently in late-stage development for the treatment of pulmonary arterial hypertension (PAH), which affects about 40,000 people in the United States.

While the company has not yet applied for approval from the U.S. Food and Drug Administration, a potential nod could make seralutinib a rival to Merck's Winrevair, which

secured

the agency's clearance for PAH in March.

Gossamer is to receive $160 million in development reimbursement payment and is eligible to receive up to $146 million in regulatory and $180 million in sales milestones as part of the deal. (Reporting by Christy Santhosh; Editing by Vijay Kishore)