TIDMPRTC
PureTech Health PLC
23 September 2019
23 September 2019
PureTech Health plc
PureTech Affiliate Vedanta Biosciences Raises Additional $16.6
Million of Series C Financing, Bringing Total Capital Raised to
$62.1 Million
PureTech Health plc (LSE: PRTC) ("PureTech"), a clinical stage
biotechnology company dedicated to discovering, developing and
commercialising highly differentiated medicines for dysfunctions of
the Brain-Immune-Gut (BIG) axis, is pleased to note that its
affiliate, Vedanta Biosciences, added $16.6 million to its Series C
financing round, bringing the total capital raised to $62.1
million. The proceeds from the round will further support the
expansion of Vedanta's broad pipeline, which includes two
clinical-stage product candidates being advanced internally and one
being advanced in collaboration with Janssen Biotech, Inc.
Bharatt Chowrira, JD, PhD, president and chief of business and
strategy at PureTech said: "We are pleased that Vedanta continues
to attract strong investor interest. This impressive $62.1 million
financing will support the advancement of Vedanta's growing
clinical pipeline."
The full text announcement from Vedanta Biosciences is as
follows:
Vedanta Biosciences Announces $16.6 Million Series C-2
Financing
New funding brings total Series C and C-2 capital raised to
$62.1 million
CAMBRIDGE, Mass., September 23 2019-Vedanta Biosciences, a
clinical-stage company developing a new category of therapies for
immune-mediated diseases based on rationally-defined consortia of
human microbiome-derived bacteria, today announced a $16.6 million
Series C-2 financing round, bringing the total capital raised in
its Series C and C-2 round to $62.1 million. Participants include
QUAD Investment Management, SV Investment Corp., Shinhan
Investment-Private Equity, Shinhan Capital-Yeollim Partners,
Partners Investment Co., Ltd, FC Capital, and SymBiosis LLC, who
join the previously announced Series C investors, including the
Bill & Melinda Gates Foundation, Bristol-Myers Squibb, Rock
Springs Capital, JSR Corporation, Shumway Capital, Invesco Asset
Management, Health for Life (Seventure Partners), and founder
PureTech Health. The funding further supports the expansion of
Vedanta's broad clinical pipeline, including the recently launched
Phase 1b/2 study of VE416 in food allergy, a planned Phase 1b/2
study of VE800 and OPDIVO(R) (nivolumab) in advanced or metastatic
cancers, and the ongoing Phase 2 study of VE303 in recurrent
Clostridioides difficile infection (rCDI).
"We welcome the support from both existing and new investors for
Vedanta's expanding activities and maturing portfolio of product
candidates based on rationally-defined consortia," said Bernat
Olle, PhD, co-founder and chief executive officer of Vedanta
Biosciences.
Vedanta Biosciences is developing drug candidates based on
consortia of natural non-pathogenic bacterial strains designed to
effect robust and durable therapeutic changes in a person's gut
microbiota. In contrast to faecal transplants or administration of
faecal fractions, Vedanta Biosciences' consortia are defined
compositions of bacteria manufactured from pure, clonal cell banks,
bypassing the need to rely on direct sourcing of faecal donor
material of inconsistent composition.
About Vedanta Biosciences
Vedanta Biosciences is a clinical-stage microbiome leader
developing a new category of therapies for immune-mediated diseases
based on rationally-defined consortia of human microbiome-derived
bacteria. Vedanta's proprietary capabilities include what is
believed to be the largest collection of human-gut associated
bacteria, assays and bioinformatics techniques for consortia design
and optimisation, vast datasets from human interventional studies
and facilities for cGMP-compliant manufacturing of
rationally-defined bacterial consortia in powder form.
Vedanta Biosciences' pioneering work, in collaboration with its
scientific co-founders, has led to the identification of human
commensal bacteria that induce a range of immune responses -
including induction of regulatory T cells, CD8+ T cells, and Th17
cells, among others. These advances have been published in leading
peer-reviewed journals, including Science (multiple), Nature (2013,
2019), Cell, and Nature Immunology. Vedanta Biosciences has
harnessed these biological insights and its capabilities to
generate a pipeline of investigational live biotherapeutic products
(LBPs) in infectious disease, autoimmune disease, allergy, and
immuno-oncology. This pipeline includes three clinical-stage
product candidates currently being evaluated for the treatment of
recurrent C. difficile infection and inflammatory bowel disease (in
collaboration with Janssen Biotech, Inc.), and food allergy, as
well as a fourth product candidate expected to enter the clinic in
2019 in patients with advanced or metastatic cancers (in
combination with Bristol-Myers Squibb's checkpoint inhibitor
OPDIVO(R)).
Vedanta's IP portfolio contains over 30 issued patents with
coverage extending to 2037. Vedanta Biosciences was founded by
PureTech Health (LSE:PRTC). Its scientific co-founders are
world-renowned experts in immunology and microbiology who have
pioneered the fields of innate immunity, Th17 and regulatory T cell
biology.
About PureTech Health
PureTech is a clinical stage biotechnology company dedicated to
discovering, developing and commercialising highly differentiated
medicines for devastating diseases, including intractable cancers,
lymphatic and gastrointestinal diseases, central nervous system
disorders, and inflammatory and immunological diseases, 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 affiliates, is comprised of 24 product
candidates and one product that has been cleared by the US Food and
Drug Administration (FDA). All of the underlying programmes and
platforms that resulted in this pipeline of product 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.
Ownership Information
PureTech's percentage ownership of Vedanta Biosciences following
the financing is approximately 53.3% on a diluted basis. This
calculation of PureTech's holding includes issued and outstanding
shares as well as options and warrants to purchase shares, but
excludes unallocated shares authorised to be issued pursuant to
equity incentive plans.
Forward Looking Statement
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, 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 US media
Allison Mead Talbot Ben Atwell, Rob Winder Tom Donovan
+1 617 651 3156 +44 (0) 20 3727 1000 +1 857 559 3397
amt@puretechhealth.com ben.atwell@FTIconsulting.com tom@tenbridgecommunications.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. 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.
END
NRAPGUQPBUPBUUW
(END) Dow Jones Newswires
September 23, 2019 02:01 ET (06:01 GMT)
Puretech Health (LSE:PRTC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Puretech Health (LSE:PRTC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024