- Clinical-stage biotherapeutics company PureTech Health said that its founded entity Vedanta Biosciences has received a $25 million investment from Pfizer as part of the Pfizer Breakthrough Growth Initiative.

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.

A phase 1 study data showed VE202 was generally safe and well-tolerated at all doses and demonstrated durable and dose-dependent colonisation.

As part of the investment, Michael Vincent, chief scientific officer at Pfizer’s inflammation and immunology research unit, will join Vedanta's scientific advisory board.

Vedanta will retain control of all its programmes and has granted Pfizer a right of first negotiation on VE202.

At 1:19pm: [LON:PRTC] Puretech Health PLC share price was 0p at 282p

Story provided by