PRTC - Vedanta Biosciences raises $106.5M to fund drug development programs

2023-04-25 07:20:10 ET

• PureTech Health ( NASDAQ: PRTC ) said its founded entity Vedanta Biosciences has raised $106.5M to support development of its drug pipeline.
• The funds are aimed to help advance the company's lead drug VE303 in a phase 3 trial for preventing recurrent Clostridioides difficile infection (CDI), and a phase 2 study of VE202 for ulcerative colitis, among other development activities.
• The company said the VE303 study would be the first pivotal phase 3 trial of a therapy based on a defined bacterial consortium, which Vedanta is developing as a next-generation approach to microbiome therapy.
• The investor syndicate was co-led by new investors AXA IM Alts and The AMR Action Fund, along with existing investors Bill & Melinda Gates Foundation, Skyviews Life Science, and certain others .
• In addition, two directors will end their tenure on Vedanta's board, including Christopher Viehbacher, CEO of Biogen and Bharatt Chowrira, president, chief business, legal and operating officer of PureTech.

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