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Vedanta Receives $25M Investment from Pfizer Inc
Vedanta Receives $25M Investment from Pfizer Inc.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3242L\n PureTech Health PLC\n 12 January 2021\n \n \n \n \n 12 January 2021\n \n \n PureTech Health plc\n \n \n \n \n \n \n PureTech Founded Entity \n \n \n Vedanta Biosciences Announces $25 Million Investment from Pfizer Inc.\n \n \n \n \n Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer,\n \n \n \n \n \n to join Vedanta's Scientific Advisory Board\n \n \n \n \n \n \n \n \n PureTech Health plc\n \n \n (LSE: PRTC, NASDAQ: PRTC) (\"PureTech\" or the \"Company\"), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases\n , is pleased to note that its Founded Entity, Vedanta Biosciences, today announced \n that Pfizer Inc. (NYSE: PFE) has made a $25 million investment in Vedanta, as part of the \n \n \n Pfizer Breakthrough Growth Initiative\n \n \n . \n \n \n \n \n \n Vedanta intends to use the proceeds to fund a Phase 2 study of VE202 in inflammatory bowel disease (IBD), which it plans to initiate in 2021. \n Topline Phase 1 study data showed VE202 was generally safe and well-tolerated at all doses and demonstrated durable and dose-dependent colonization.\n \n \n \n \n \n As part of the investment, Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer, will join Vedanta's Scientific Advisory Board. Vedanta will retain control of all its programs and has granted Pfizer a right of first negotiation on VE202. \n \n \n \n \n \n The full text of the announcement from Vedanta is as follows:\n \n \n \n \n \n Vedanta Biosciences Announces $25 Million Investment from Pfizer Inc.\n \n \n \n Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer,\n \n \n \n \n \n to join Vedanta's Scientific Advisory Board\n \n \n \n \n \n \n \n CAMBRIDGE, \n \n \n January 12, 2021\n \n \n \n \n - \n \n \n Vedanta Biosciences\n \n \n , a leading 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 that Pfizer Inc. (NYSE: PFE) has made a $25 million investment in Vedanta...