13th May 2019 12:44
LONDON (Alliance News) - PureTech Health PLC said Monday its affiliate Vedanta Biosciences has extended its series C financing round by USD18.5 million.
The extension takes the total amount raised from the financing round to USD45.5 million.
PureTech Health, which develops medicines for brain, immune and gut conditions, said the additional investment came from Japanese industrial materials producer JSR Corp, private investor Shumway Capital, SymBiosis LLC, and UK investor Partners Investment Co Ltd.
"Expanding an already impressive syndicate with these additional investors is a tribute to Vedanta's differentiated clinical pipeline and platform which represent a new frontier for immune-mediated diseases," said Chief Executive Bharatt Chowrira.
The proceeds will be used to advance Vedanta's clinical portfolio in indications including food allergy, advanced or metastatic cancers and infection. Vedanta is also advancing a clinical study with Johnson & Johnson subsidiary Janssen into inflammatory bowel disease.
Shares in PureTech Health were down 1.0% Monday at 198.00 pence each.
Related Shares:
PureTech