14th Feb 2019 12:40
LONDON (Alliance News) - PureTech Health PLC said on Thursday that affiliate Vor BioPharma has raised USD42 million to press ahead with a leukaemia treatment.
Vor's funding round was led by 5AM Ventures and RA Capital Management, with the proceeds to go towards advanced its haematopoietic stem cell treatment for acute myeloid leukaemia.
PureTech's Chief Scientific Officer Joseph Bolen said: "Vor's approach is designed to overcome a major limitation of some of the most powerful cancer treatments and to offer a novel therapeutic approach for patients who currently have very few treatment options and poor prognoses.
"Funding from this impressive syndicate of financial and strategic investors provides an important endorsement of this unique platform and brings us closer to our goal of addressing the tremendous need for new cancer therapies."
PureTech shares were 2.2% higher on Thursday at a price of 174.80 pence each.
Related Shares:
PureTech