Imbrium Therapeutics To Develop PureTech's Non-Opioid Candidate For Chronic Bladder Condition - PureTech Health (NASDAQ:PRTC)

Imbrium Therapeutics has exercised a license option to develop PureTech Health plc's PRTC LYT-503/IMB-150 (formerly designated as ALV-107), a non-opioid therapeutic candidate for interstitial cystitis/bladder pain syndrome (IC/BPS).
LYT-503/IMB-150 leverages the Alivio platform technology and is designed to selectively bind to and treat inflamed tissue along the bladder wall with minimal impact on healthy tissues.
PureTech has received an option exercise payment of $6.5 million and is eligible to receive up to $53 million in additional milestone payments and royalties on product sales.
An Investigational New Drug Application for the LYT-503/IMB-150 drug candidate will be filed in early 2022.
LYT-500 contains a combination of IL-22 and an anti-inflammatory drug.
IC/BPS is a chronic bladder condition that causes discomfort or pain in the bladder or surrounding pelvic region and is often associated with frequent urination.
Price Action: PRTC shares are up 2% at $47 on the last check Wednesday.