PureTech Founded Entity Vedanta Biosciences Announces $25 Million Investment from Pfizer

By AIT News Desk On Jan 12, 2021

Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer, to join Vedanta’s Scientific Advisory Board

PureTech Health plc, a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, is pleased to note that its Founded Entity, Vedanta Biosciences, announced that Pfizer Inc. has made a $25 million investment in Vedanta, as part of the Pfizer Breakthrough Growth Initiative.

“We believe Vedanta’s approach to modulating the microbiome may hold promise for people living with IBD, and we are excited for its potential as this important study moves forward.”

Vedanta intends to use the proceeds to fund a Phase 2 study of VE202 in inflammatory bowel disease (IBD), which it plans to initiate in 2021. Topline Phase 1 study data showed VE202 was generally safe and well-tolerated at all doses and demonstrated durable and dose-dependent colonization.

As part of the investment, Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer, will join Vedanta’s Scientific Advisory Board. Vedanta will retain control of all its programs and has granted Pfizer a right of first negotiation on VE202.

The full text of the announcement from Vedanta is as follows:

Vedanta Biosciences Announces $25 Million Investment from Pfizer Inc.

Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer, to join Vedanta’s Scientific Advisory Board

Vedanta Biosciences, a leading clinical-stage company developing a new category of therapies for immune-mediated diseases based on rationally defined consortia of human microbiome-derived bacteria, announced that Pfizer Inc. has made a $25 million investment in Vedanta, as part of the Pfizer Breakthrough Growth Initiative.

“We thank Pfizer for its investment in Vedanta and support of our IBD program and look forward to advancing microbiome modulation as a potential new treatment modality for IBD patients,” said Bernat Olle, Ph.D., Co-Founder and Chief Executive Officer of Vedanta Biosciences.

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“Inflammatory bowel disease has a daily, chronic impact on as many as 1.6 million Americans, and with cases on the rise in the U.S., patients urgently need new therapeutic options,” said Michael Vincent, M.D., Ph.D., Senior Vice President and Chief Scientific Officer, Inflammation & Immunology Research Unit at Pfizer. “We believe Vedanta’s approach to modulating the microbiome may hold promise for people living with IBD, and we are excited for its potential as this important study moves forward.”

As part of the investment, Dr. Vincent will join Vedanta’s Scientific Advisory Board. Vedanta will retain control of all its programs and has granted Pfizer a right of first negotiation on VE202.