PureTech Adds Inflammatory Disease Candidates To Pipeline With Alivio Buyout

Four years after launching Alivio Therapeutics, PureTech Health plc PRTC is bringing the hydrogel player back into the fold by acquiring the remaining 22% stake of the company.
Through the deal, PureTech will add Alivio’s programs for inflammatory diseases to its pipeline, including LYT-500, an oral treatment for inflammatory bowel disease (IBD).
The technology is based on a hydrogel material designed to stick to inflamed tissue but not to healthy tissue.
It delivers drugs depending on the degree of inflammation. LYT-500 combines the cytokine interleukin-22 and an anti-inflammatory drug to tackle two significant causes of IBD - the disruption of the gut’s mucosal barrier and inflammation.
Through the deal, PureTech will also pick up LYT-503/IMB-150 for interstitial cystitis, also called bladder pain syndrome, which Alivio was developing with Imbrium Therapeutics.
Price Action: PRTC shares are trading at $49 during the market trading session on the last check Wednesday.