TIDMPRTC
PureTech Health PLC
16 June 2021
16 June 2021
PureTech Health plc
PureTech Acquires Remaining Interest in Founded Entity Alivio
Therapeutics
Oral IL-22 and other preclinical therapeutic candidates as well
as the underlying technology platform to be integrated in the
Company's Wholly Owned Pipeline
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the
"Company"), a clinical-stage biotherapeutics company dedicated to
discovering, developing and commercializing highly differentiated
medicines for devastating diseases, today announced the acquisition
of the remaining 22 percent of shares outstanding in its Founded
Entity, Alivio Therapeutics ("Alivio"). Alivio's therapeutic
candidates, in development for inflammatory disorders including
inflammatory bowel disease (IBD), will be integrated into the
Company's Wholly Owned Pipeline.
The acquisition aligns with PureTech's strategy to advance a
Wholly Owned Pipeline designed to harness key immunological,
fibrotic and lymphatic system mechanisms to treat serious diseases
with significant unmet needs. The programs and the underlying
Alivio(TM) technology platform are expected to be funded by
PureTech as well as through partnerships and grants. The
integration of this program is in line with the budget for
PureTech, which extends into the first quarter of 2025, as
previously guided.
"PureTech founded Alivio alongside leading scientists Jeffrey
Karp, Ph.D., Professor of Medicine at Brigham and Women's Hospital
and Robert Langer, Sc.D., David H. Koch Institute Professor at MIT
to pioneer a novel strategy to more effectively treat inflammatory
disorders through highly targeted immunomodulation at the site of
disease. This promising approach fits well within our Wholly Owned
Pipeline and we will be able to leverage our strength in immunology
and related technologies as we progress therapeutic candidates to
potentially treat inflammatory diseases," said Daphne Zohar,
Founder and Chief Executive Officer of PureTech. "We're pleased to
add the Alivio programs to our pipeline and proud to advance a
platform that we hope will bring new therapeutic options to
millions of people with chronic and life-limiting autoimmune and
inflammatory diseases."
The Wholly Owned Pipeline will include the addition of LYT-500,
an orally-administered therapeutic candidate in development for the
treatment of IBD. Utilizing the Alivio technology platform, LYT-500
consists of two active agents intended to selectively act at the
inflamed tissues while reducing their impact on the normal tissue.
LYT-500 contains a unique combination of IL-22 and an
anti-inflammatory drug, which is designed to address the two key
underlying causes of IBD pathogenesis and progression, namely
mucosal barrier disruption and inflammation .
Existing biologic therapies indicated for IBD must be provided
through multiple injections over time and are associated with
several limitations including loss of efficacy over time and
increased risk for opportunistic infections. Using the Alivio
technology platform, a biologic agent and small molecule drug can
be combined into a single oral dosage form that offers the
potential for enhancing the treatment of inflamed tissues to
maximize efficacy, while reducing systemic exposure to minimize
toxicity. Unlike other therapies in development for IBD, LYT-500
has the potential to provide an oral drug therapy that targets
multiple mechanisms of disease pathogenesis, while reducing the
potential for systemic side effects.
The integration also includes the addition of 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 bladder
pain syndrome (IC/BPS). An IND filing for LYT-503/IMB-150 is
expected in 2021. PureTech will also continue to evaluate existing
and additional anti-inflammatory programs leveraging the 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 being advanced for idiopathic
pulmonary fibrosis and potentially other PF-ILDs, where
registration-enabling studies are being planned and is currently
being evaluated in a Phase 2 trial to treat respiratory
complications and related sequelae of Long COVID as well as a Phase
2a proof-of-concept study in patients with breast cancer-related,
upper limb secondary lymphedema; and LYT-200, a monoclonal antibody
targeting immuno-suppressive 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 the minority interests
in Alivio consist of a closing cash payment and potential future
cash payments upon successful achievement of certain milestones.
The transaction is a small transaction for the purposes of Annex 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 discovering, developing and commercializing highly
differentiated medicines for devastating diseases, including
inflammatory, fibrotic and immunological conditions, intractable
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 is being advanced both internally and through PureTech's
Founded Entities, is comprised of 26 therapeutics and therapeutic
candidates, including two that have received FDA clearance and
European marketing authorization, as of the date of PureTech's most
recently filed Annual Report 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 insights into the biology of the
brain, immune and gut, or BIG, systems and the interface between
those systems, referred to as the BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments, and strategies. The
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 the potential therapeutic benefits
of our therapeutic candidates, our expectations regarding the
acquired minority interest in Alivio Therapeutics, the acquired
therapeutic candidates including the potential benefits therefrom,
and those risks and uncertainties described in the risk factors
included in the regulatory filings for PureTech Health plc. These
forward-looking statements are based on assumptions regarding the
present and future business strategies of the company and the
environment in which it will operate in the future. Each
forward-looking statement speaks only as at 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.
Contact:
Investors EU media
Allison Mead Talbot Ben Atwell, Rob Winder
+1 617 651 3156 +44 (0) 20 3727 1000
amt@puretechhealth.com ben.atwell@FTIconsulting.com
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAEAEKSFDNFEAA
(END) Dow Jones Newswires
June 16, 2021 07:00 ET (11:00 GMT)
Puretech Health (LSE:PRTC)
Historical Stock Chart
From Apr 2024 to May 2024
Puretech Health (LSE:PRTC)
Historical Stock Chart
From May 2023 to May 2024