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PureTech, a clinical-stage biotherapeutics company that discovers, develops and commercialises medicines, has announced it has acquired the remaining 22% outstanding shares in Alivio Therapuetics, a company it founded.
Alivios therapeutic candidates will be integrated into PureTechs pipeline upon completion of the acquisition.
The transaction marks a shift in strategy, as PureTech starts to align a wholly owned pipline that harnesses immunological, fibrotic and lymphatic system mechanisms to treat serious diseases with substantial unmet needs.
PureTech founded Alivio alongside leading scientists Jeffrey Karp, Ph.D., Professor of Medicine at Brigham and Women's Hospital and Robert Langer, Sc.D., David H. Koch Institute Professor at MIT to pioneer a novel strategy to more effectively treat inflammatory disorders through highly targeted immunomodulation at the site of disease, said Daphne Zohar, founder and chief executive officer of PureTech.
This promising approach fits well within our Wholly Owned Pipeline and we will be able to leverage our strength in immunology and related technologies as we progress therapeutic candidates to potentially treat inflammatory diseases," adds Zohar.
The acquisition of the minority interests in Alivio will involve a cash payment potential future cash payments upon successful achievement of certain milestones.