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09 Jun 2020 | 08:40

PureTech Health sees 'positive' topline data from Phase 1 on IBD candidate

(Sharecast News) - Clinical-stage biotherapeutics company PureTech Health reported some "positive" topline data from two Phase 1 studies into VE202, its orally-administered inflammatory bowel disease treatment candidate. PureTech said on Tuesday that VE202 was "generally safe and well-tolerated" in healthy volunteers, with durable and dose-dependent colonisation that will inform its Phase 2 dose regimen.

Vedanta, the FTSE 250-listed group's founded entity, expects to begin a Phase 2 study in IBD patients in the next 12 months, while a more complete dataset and analyses of the Phase 1 results will be submitted to a peer-reviewed journal in the near future.

Elsewhere, PureTech noted the receipt of $12m in additional capital and research and development collaboration funds. From new and existing investors, bringing its total Series C/C-2 funding to $71.1m.

Chief of business and strategy Bharatt Chowira said: "Vedanta has built an impressive body of evidence that its live biotherapeutic product candidates are safe, well-tolerated and able to modulate the human microbiome in a highly targeted and durable fashion, opening the door for an exciting and entirely novel class of therapeutics.

"These trial results and the additional Series C funding from leading investors are important milestones for Vedanta and we look forward to the launch of the Phase 2 trial in IBD patients and other advances across the breadth of Vedanta's pipeline of compelling programmes."

As of 0835 BST, PureTech shares were up 2.82% at 271.46p.
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