PureTech Health PLC PRTC Receives $6.5M; Imbrium to Develop LYT-503
August 11 2021 - 7:00AM
RNS Non-Regulatory
TIDMPRTC
PureTech Health PLC
11 August 2021
11 August 2021
PureTech Health plc
PureTech Announces that Imbrium Therapeutics Has Exercised
License Option to LYT-503/IMB-150 for Interstitial Cystitis/Bladder
Pain Syndrome
Imbrium Therapeutics has paid PureTech $6.5 million and PureTech
is eligible to receive up to $53 million in additional development
milestone payments for this program in addition to royalties on
product sales
Imbrium is responsible for all future development activities and
funding for LYT-503/IMB-150, for which an IND filing is planned for
early 2022
PureTech is advancing LYT-500 and other programs from the
Alivio(TM) platform as part of its 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 that Imbrium
Therapeutics ("Imbrium") has exercised a license option under the
companies' research and development collaboration agreement to
develop PureTech's LYT-503/IMB-150 (formerly designated as
ALV-107), a non-opioid therapeutic candidate being developed for
interstitial cystitis/bladder pain syndrome ("IC/BPS").
LYT-503/IMB-150 leverages the Alivio(TM) platform technology and is
designed to selectively bind to and treat inflamed tissue along the
bladder wall while limiting systemic drug exposure. PureTech has
received an option exercise payment of $6.5 million and is eligible
to receive up to $53 million in additional development milestone
payments for this program as well as royalties on product sales. An
Investigational New Drug ("IND") Application for the
LYT-503/IMB-150 drug candidate is planned to be filed in early
2022.
"The preclinical data from this program support the potential of
LYT-503/IMB-150 as a potent and targeted therapy for IC/BPS, a
chronic and often extremely painful condition that lacks effective
treatment options," said Greg Zugates, Ph.D., Vice President at
PureTech who is leading the Alivio platform work. "We have
successfully completed preclinical development of LYT-503/IMB-150,
and we believe that Imbrium's decision to assume leadership for the
next stages of development and clinical studies is a strong
validation of the underlying Alivio platform technology."
PureTech will continue to advance new and existing Wholly Owned
Programs leveraging the Alivio platform technology, including
LYT-500, which is an orally-administered therapeutic candidate in
development for the treatment of inflammatory bowel disease ("IBD")
. Unlike products that serve as the current standards of care for
treating IBD, LYT-500 consists of two active agents intended to
selectively target inflamed sites of disease with minimal impact on
healthy tissues. 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 .
About IC/BPS
IC/BPS is a chronic bladder condition that causes discomfort or
pain in the bladder or surrounding pelvic region and is often
associated with frequent urination. It is estimated to affect up to
12 million people in the U.S. and is more common in women than men.
Current treatments fail to control pain and bladder dysfunction in
many patients.
About the Alivio Ô Technology Platform
The Alivio technology platform enables a targeted approach to
immunomodulation, designed to selectively restore immune
homeostasis at inflamed sites with minimal impact on the rest of
the body. The platform aims to drive development of therapies to
treat a range of chronic and acute inflammatory disorders.
PureTech's Alivio technology platform has been described in five
peer-reviewed articles published in journals such as Science
Translational Medicine and Nature Communications and has been
validated in multiple labs using preclinical models for a range of
potential indications.
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
exercised license option of LYT-503/IMB-150 to develop, file an
IND, obtain regulatory approval for and commercialize the
LYT-503/IMB-150 product candidate, our expectations regarding
Imbrium's leadership and development of LYT-503/IMB-150, our
expectations regarding the potential therapeutic benefits of
LYT-503/IMB-150 for IC/BPS and those risks and uncertainties
described in the risk factors included in the regulatory filings
for PureTech. 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
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