PureTech Health plc (PureTech or the Company), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, announced the acquisition of the remaining 22 per cent of shares outstanding in its founded entity, Alivio Therapeutics (Alivio)to leverage its strength in immunology and related technologies to potentially treat inflammatory diseases. Alivio’s therapeutic candidates, in development for inflammatory disorders including inflammatory bowel disease (IBD), will be integrated into the Company’s wholly owned pipeline.
Four years after launching Alivio Therapeutics, PureTech Health is bringing the hydrogel player back into the fold by acquiring the remaining 22% of the company.
PureTech announced the acquisition of the remaining interest in its Founded Entity, Alivio Therapeutics. Alivio’s therapeutic candidates, in development for inflammatory disorders including inflammatory bowel disease (IBD), will be integrated into the Company’s Wholly Owned Pipeline, including the addition of LYT-500, an orally administered therapeutic candidate in development for the treatment of IBD. (Graphic: Business Wire)
BOSTON--(BUSINESS WIRE)--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 US Department of Defense (DoD) has committed a Technology/Therapeutic Development Award to the value of $3.3 million to biotech firm Alivio Therapeutics to support and galvanise development of the latter’s inflammatory bowel disease (IBD) therapy known as ALV-304.