PRTC - PureTech bags $11.4M from U.S. Department of Defense contract

2023-08-01 07:38:27 ET

Clinical-stage biotherapeutics company PureTech Health ( NASDAQ: PRTC ) has been awarded up to $11.4M from the U.S. Department of Defense to advance its therapeutic candidate, LYT-300 (oral allopregnanolone), for the treatment of Fragile X-associated Tremor Ataxia Syndrome.

The funds will support a Phase 2 trial of LYT-300 in collaboration with the University of California, Davis (UC Davis).

“This award from the DoD allows us to expand our evaluation of LYT-300, a candidate with a wide variety of potential indications, into FXTAS, an area of tremendous need where otherwise normally developed, aging individuals suffer from significant neurodegeneration. We look forward to collaborating with Dr. Randi Hagerman and her team at UC Davis to bring the potential of allopregnanolone to the thousands of individuals with FXTAS in need of a treatment.” said Eric Elenko, Ph.D., Chief Innovation Officer at PureTech Health.

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