Business
Janssen/Vedanta Phase 1 in IBD & $12M Milestone
Janssen/Vedanta Phase 1 in IBD & $12M Milestone.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \nRNS Number : 5582I PureTech Health PLC 27 November 2018 \n\n27 November 2018\n \nPureTech Health plc\n \nPureTech's Vedanta Biosciences Announces Initiation of Phase 1 Clinical Study with Janssen of Microbiome-Derived Product Candidate for Inflammatory Bowel Disease\n \nFirst clinical study of a rationally-defined bacterial consortium for an immune-mediated disease\n \nMilestone triggers $12 million in payments to Vedanta Biosciences from Janssen\n \nPureTech Health plc (LSE: PRTC) (\"PureTech Health\"), an advanced biopharmaceutical company developing novel medicines for dysfunctions of the Brain-Immune-Gut (BIG) Axis, is pleased to note that Vedanta Biosciences today announced the initiation of a Phase 1 clinical study of VE202, the Company's orally-administered, live biotherapeutic product (LBP) candidate for inflammatory bowel disease (IBD) that was licensed to Janssen Biotech, Inc. in 2015. In conjunction with the initiation of this study, Vedanta Biosciences will receive $12 million from Janssen in milestone payments as part of the ongoing collaboration, which has development and commercialisation milestone payments of up to a total of $339 million in addition to royalty payments. \n \nBharatt Chowrira, JD, PhD, President and Chief of Business and Strategy at PureTech Health, said: \"This is an important milestone as it represents what we believe to be the first clinical study of a rationally-defined bacterial consortium for an immune-mediated disease. We look forward to the continued partnership with Janssen as we advance VE202 through the clinic for IBD, and we are pleased with the overall progression of Vedanta's pipeline, which now includes two clinic-stage live biotherapeutic product candidates.\"\n \nThe full text announcement from Vedanta Biosciences is as follows:\n \nVedanta Biosciences Announces Initiation of Phase 1 Clinical Study with Janssen of Microbiome-Derived Product Candidate for Inflammatory Bowel Disease\n \nFirst clinical study of a rationally-defined bacterial consortium for an immune-mediated disease\n \nMilestone triggers $12 million in payments from Janssen\n \nCAMBRIDGE, Mass., Nov. 27, 2018-Vedanta Biosciences, a clinical-stage company developing a new category of therapies for immune-mediated diseases based on rat...