PureTech Adds Inflammatory Disease Candidates To Pipeline With Alivio Buyout - PureTech Health (NASDAQ:PRTC)

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.