PureTech Acquires Remaining Stake in Founded Entity Alivio Therapeutics | Your money
BOSTON – (BUSINESS WIRE) – June 16, 2021–
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to the discovery, development and commercialization of highly differentiated drugs for devastating diseases, announced today hui the acquisition of the remaining 22% outstanding shares of its founded entity, Alivio Therapeutics (“Alivio”). Alivio’s therapeutic candidates, under development for inflammatory disorders, including inflammatory bowel disease (IBD), will be included in the company’s wholly-owned pipeline.
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PureTech announced the acquisition of the remaining stake in its founded entity, Alivio Therapeutics. Alivio’s therapeutic candidates, in development for inflammatory disorders, including inflammatory bowel disease (IBD), will be included in the company’s wholly-owned pipeline, including the addition of LYT-500, a candidate Oral therapy in development for the treatment of IBD. (Graphic: Business Wire)
The acquisition aligns with PureTech’s strategy to advance a wholly owned pipeline designed to harness key mechanisms of the immunologic, fibrotic and lymphatic systems to treat serious illnesses with significant unmet needs. The programs and the underlying technology platform AlivioTM are expected to be funded by PureTech as well as through partnerships and grants. The integration of this program is in line with PureTech’s budget, which runs until the first quarter of 2025, as previously guided.
PureTech founded Alivio alongside eminent scientists Jeffrey Karp, Ph.D., professor of medicine at Brigham and Women’s Hospital and Robert Langer, Sc.D., professor at the David H. Koch Institute at MIT to point a new strategy to treat inflammations more effectively. by highly targeted immunomodulation at the site of the disease. This promising approach fits well into our wholly owned pipeline and we will be able to leverage our strength in immunology and related technologies as we progress on therapeutic candidates to potentially treat inflammatory diseases, ”said Daphne Zohar, Founder and CEO of PureTech. “We are excited to add the Alivio programs to our pipeline and proud to advance a platform that we hope will bring new treatment options to millions of people with chronic and limiting autoimmune and inflammatory diseases. life. “
The wholly owned pipeline will include the addition of LYT-500, an orally administered therapeutic candidate under development for the treatment of IBD. Using the Alivio technology platform, LYT-500 consists of two active agents intended to act selectively on inflamed tissue while reducing their impact on normal tissue. LYT-500 contains a unique combination of IL-22 and an anti-inflammatory drug, designed to treat the two main underlying causes of IBD pathogenesis and progression, namely mucosal barrier disruption and inflammation.
Existing biologic therapies indicated for IBD must be administered by multiple injections over time and are associated with several limitations, including loss of efficacy over time and an increased risk of opportunistic infections. Using the Alivio technology platform, a biologic agent and a small molecule drug can be combined into a single oral dosage form that offers the potential to improve the treatment of inflamed tissue to maximize efficacy, while reducing the systemic exposure to minimize toxicity. Unlike other therapies in development for IBD, LYT-500 has the potential to provide oral drug therapy that targets multiple disease pathogenesis mechanisms, while reducing the potential for systemic side effects.
The integration also includes the addition of the therapeutic candidate, LYT-503 / IMB-150, to the Company’s pipeline, which is being developed in collaboration with Imbrium Therapeutics as a potential non-opioid treatment for interstitial cystitis or pain syndrome. bladder (IC / BPS). An IND dossier for LYT-503 / IMB-150 is expected in 2021. PureTech will also continue to evaluate existing and additional anti-inflammatory programs leveraging Alivio platform technology.
PureTech’s wholly-owned pipeline also includes three clinical stage programs: LYT-100, a selectively deuterated form of pirfenidone that has demonstrated anti-inflammatory and anti-fibrotic activity and is in development for idiopathic and potentially pulmonary fibrosis. other PF-ILDs, where registration-enabling studies are planned and are currently being evaluated in a phase 2 trial to treat respiratory complications and associated sequelae of Long COVID as well as a phase proof of concept study 2a in patients with secondary lymphedema of the upper limbs associated with breast cancer; and LYT-200, a monoclonal antibody targeting immunosuppressive galactin-9, which is in a phase 1 trial for metastatic solid tumors. PureTech’s wholly-owned pipeline also includes LYT-300, an oral version of allopregnanolone (a natural neurosteroid), developed using PureTech’s proprietary Glyph platform, and several other discovery platforms. leveraging the company’s expertise in lymphatic targeting.
The consideration for the acquisition of minority interests in Alivio consists of a closing cash payment and potential future cash payments upon successful completion of certain milestones. The transaction is a small transaction for the purposes of Schedule 1 of Listing Rule 11 and smaller than a Class 2 transaction for the purposes of Listing Rule 10.
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated to the discovery, development and commercialization of highly differentiated drugs for devastating diseases including inflammatory, fibrotic and immunological conditions, incurable cancers, lymphatic and gastrointestinal diseases and neurological and neuropsychological disorders, among others. The company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which progresses both internally and through PureTech’s founded entities, includes 26 therapeutic products and therapeutic candidates, two of which have received FDA clearance and European marketing authorization. , on the date of the last annual report filed by PureTech on form 20. -F. All of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the PureTech team through key validation points based on the company’s unique knowledge of the Brain, Immune System, and Gut Biology, or BIG, systems and the interface between these systems called the BIG Axis.
For more information visit www.puretechhealth.com or connect with us on Twitter @puretechh.
Caution regarding forward-looking statements
This press release contains statements which are or may be forward-looking statements, including statements relating to the future prospects, developments and strategies of the company. Forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to , our expectations regarding potential therapeutic benefits. of our therapeutic candidates, our expectations regarding the minority stake acquired in Alivio Therapeutics, the acquired therapeutic candidates, including the potential benefits arising therefrom, and the risks and uncertainties described in the risk factors included in the regulatory files of PureTech Health plc . These forward-looking statements are based on assumptions about the Company’s current and future business strategies and the environment in which it will operate in the future. Each forward-looking statement speaks only as of the date of this press release. Except as required by law and regulatory requirements, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events. or otherwise.
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Allison Mead Talbot
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SOURCE: PureTech Health plc
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PUB: 06/16/2021 7:00 a.m. / DISC: 06/16/2021 7:02 a.m.