Business
PRTC Receives $6.5M; Imbrium to Develop LYT-503
PRTC Receives $6.5M; Imbrium to Develop LYT-503.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2225I\n PureTech Health PLC\n 11 August 2021\n \n \n \n \n 11 August 2021\n \n \n PureTech Health plc\n \n \n \n \n \n PureTech Announces that Imbrium Therapeutics Has Exercised License Option to LYT-503/IMB-150 for Interstitial Cystitis/Bladder Pain Syndrome \n \n \n \n \n \n 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\n \n \n \n \n \n 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\n \n \n \n \n \n PureTech is advancing LYT-500 and other programs from the AlivioTM platform as part of its Wholly Owned Pipeline \n \n \n \n \n \n PureTech Health plc \n (Nasdaq: PRTC, LSE: PRTC) \n (\"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 \n non-opioid therapeutic candidate being developed for \n interstitial cystitis/bladder pain syndrome (\"IC/BPS\"). LYT-503/IMB-150 leverages the AlivioTM 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.\n An Investigational New Drug (\"IND\") Application for the LYT-503/IMB-150 drug candidate is planned to be filed in early 2022.\n \n \n \n \n \n \"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 developmen...