\nThe Series D financing was led by affiliates of Magnetar Capital. Other participants in the financing were new and existing investors including Verition Fund Management, Fosun Health Capital, co-founder PureTech Health, Rock Springs Capital, Skyviews Life Science, JSR Corporation, SymBiosis LLC, Shumway Capital, Health for Life Capital (Seventure Partners) and other institutional investors. The round also includes a $25 million investment from Pfizer as part of the Pfizer Breakthrough Growth Initiative, which was announced in January 2021.\n<\/p>\n
\nVedanta plans to use the proceeds to advance its pipeline of defined bacterial consortia, including progressing VE303 into a Phase 3 clinical trial in patients at high risk for recurrentCDI, initiating a Phase 2 clinical trial of VE202 in mild to moderate ulcerative colitis and continuing to advance programs in additional indications.\n<\/p>\n
\nThe full text of the announcement from Vedanta is as follows:\n<\/p>\n
Vedanta Biosciences Completes $68 Million Series D Financing <\/b><\/p>\n
Proceeds expected to be used primarily to support a Phase 3 trial of lead candidate VE303 in Clostridioides difficile infection (CDI) and a Phase 2 trial of VE202 in inflammatory bowel disease (IBD) <\/i><\/p>\n
Topline data from Phase 2 trial of VE303 in CDI are anticipated in Q3 2021<\/i><\/p>\n
Plans to initiate Phase 2 trial of VE202 for treatment of mild to moderate ulcerative colitis in H2 2021<\/i><\/p>\n
CAMBRIDGE, MA, July 21, 2021 <\/b>\u2013 Vedanta Biosciences, Inc.<\/a>, a leading clinical-stage microbiome company developing a new category of oral therapies using defined bacterial consortia manufactured from clonal cell banks, today announced the closing of a $68 million Series D financing and provided a pipeline update.\n<\/p>\n \nThe Series D financing was led by affiliates of Magnetar Capital. Other participants in the financing were new and existing investors including Verition Fund Management, Fosun Health Capital, co-founder PureTech Health, Rock Springs Capital, Skyviews Life Science, JSR Corporation, SymBiosis LLC, Shumway Capital, Health for Life Capital (Seventure Partners), and other institutional investors. The round also includes a $25 million investment from Pfizer as part of the Pfizer Breakthrough Growth Initiative, which was announced in January 2021.\n<\/p>\n \nVedanta plans to use the proceeds to advance its pipeline of defined bacterial consortia, including progressing VE303 into a Phase 3 clinical trial in patients at high risk for recurrentCDI, initiating a Phase 2 clinical trial of VE202 in mild to moderate ulcerative colitis, and continuing to advance programs in additional indications.\n<\/p>\n \n\u201cWe are delighted to welcome the new investors in our Series D round and are grateful to our existing shareholders and partners for their continued support,\u201d said Bernat Olle, Ph.D., Co-Founder and Chief Executive Officer of Vedanta Biosciences. \u201cSince our last funding round, we have made significant progress advancing defined bacterial consortia as a new modality for infectious and immune-mediated diseases. This most recent financing, together with the support we receive from BARDA for our CDI program, will enable us to advance mid- and late-stage programs in CDI and IBD, as well as support early exploratory clinical studies in additional indications.\u201d\n<\/p>\n \n\u201cDrugs based on defined bacterial consortia are a promising new therapeutic modality with the potential to transform medicine, and Vedanta is the leader in this category, with a state-of-the-art discovery platform, field-leading GMP manufacturing capabilities, and an advanced pipeline,\u201d said Ted Koutouzis, M.D., Managing Director of Fiscus Venture and Reimagined Ventures, affiliates of Magnetar. \u201cWe are proud to support the company\u2019s efforts.\u201d\n<\/p>\n Vedanta\u2019s Pipeline<\/b><\/p>\n \nVedanta Biosciences is developing a potential new category of oral therapies based on rationally defined consortia of bacteria derived from the human microbiome. All of the company\u2019s pipeline programs are wholly owned.\n<\/p>\n Company-Sponsored Programs<\/b><\/p>\n VE303 for the Prevention of Recurrence in High-risk Patients with Clostridioides difficile<\/i> (CDI) Infection<\/b><\/p>\n VE202 for the Treatment of Inflammatory Bowel Disease (IBD)<\/b><\/p>\n VE800 for the Treatment of Advanced and Metastatic Tumors <\/b><\/p>\n Preclinical Programs<\/b><\/p>\n Investigator-Sponsored Studies<\/b><\/p>\n VE416 in Peanut Allergy<\/b><\/p>\n VE303 in Hepatic Encephalopathy<\/b><\/p>\n \nFJS Consultants Limited acted as a placement agent for Vedanta\u2019s investors in China. BARDA is the Biomedical Advanced Research and Development Authority, part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.\n<\/p>\n About Vedanta Biosciences<\/b><\/p>\n \nVedanta Biosciences is leading the development of a potential new category of oral therapies for immune-mediated diseases using defined bacterial consortia manufactured from clonal cell banks. The company\u2019s approach bypasses the need to rely on direct sourcing of donor fecal material of inconsistent composition, thus overcoming challenges related to safety, quality, and scalability that limit donor-derived approaches. The clinical pipeline includes product candidates being evaluated for the treatment of C. difficile <\/i>infection, inflammatory bowel diseases, advanced or metastatic cancers, and food allergy. These investigational therapies are grounded in pioneering research \u2013 published in leading journals including Science, Nature, <\/i>and Cell<\/i> \u2013 that identified bacteria that induce a range of beneficial immune responses. The company\u2019s platform includes what is believed to be the largest library of bacteria derived from the human microbiome, high-throughput methods for bacterial consortium design, vast datasets from human interventional studies, and state-of-the-art capabilities for cGMP-compliant manufacturing of defined bacterial consortia. Vedanta Biosciences controls a foundational intellectual property portfolio covering compositions of matter and methods of use for classes of bacteria that play key roles in human health. Vedanta Biosciences was founded by PureTech Health (Nasdaq: PRTC, LSE: PRTC) and a global team of scientific co-founders who pioneered the modern understanding of the interaction between the immune system and the microbiome.\n<\/p>\n About PureTech Health<\/b><\/p>\n \nPureTech is a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, including inflammatory, fibrotic and immunological conditions, intractable cancers, lymphatic and gastrointestinal diseases and neurological and neuropsychological disorders, among others. The Company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which is being advanced both internally and through PureTech’s Founded Entities, is comprised of 26 therapeutics and therapeutic candidates, including two that have received FDA clearance and European marketing authorization, as of the date of PureTech\u2019s most recently filed Annual Report on Form 20-F. All of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the PureTech team through key validation points based on the Company\u2019s unique insights into the biology of the brain, immune and gut, or BIG, systems and the interface between those systems, referred to as the BIG Axis.\n<\/p>\n \nFor more information, visit www.puretechhealth.com<\/a> or connect with us on Twitter @puretechh.\n<\/p>\n Ownership Information<\/b><\/p>\n \nPureTech’s percentage ownership of Vedanta Biosciences following the financing is approximately 41.4% on a diluted basis. This calculation of PureTech’s holding includes issued and outstanding shares as well as options and warrants to purchase shares, but excludes unallocated shares authorized to be issued pursuant to equity incentive plans.\n<\/p>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nThis press release contains statements that are or may be forward-looking statements, including statements that relate to the Company’s future prospects, developments, and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, expectations regarding Vedanta\u2019s use of proceeds from the Series D financing, including expectations regarding the use of the funding to support a Phase 3 trial of VE303 and a Phase 2 trial of VE202, the potential clinical benefit of VE303, VE202 and Vedanta\u2019s other product candidates, the anticipated timing of initiation and topline data from Vedanta\u2019s planned and ongoing clinical trials and those risks and uncertainties described in the risk factors included in the regulatory filings for PureTech Health plc. These forward-looking statements are based on assumptions regarding the present and future business strategies of the Company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.\n<\/p>\n DISCLAIMER<\/b><\/p>\n \nCARB-X funding for this research is sponsored by Cooperative Agreement Number IDSEP160030 from ASPR\/BARDA and by awards from Wellcome Trust, and the Bill & Melinda Gates Foundation. The contents are solely the responsibility of the authors and do not necessarily represent the official views of CARB-X or any of its funders.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210721005471\/en\/<\/a><\/span><\/p>\n Investors U.S. media KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n INDUSTRY KEYWORDS:<\/b> Oncology Health Infectious Diseases Clinical Trials Pharmaceutical Biotechnology<\/p>\n\n
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Allison Mead Talbot
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+1 617 651 3156
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amt@puretechhealth.com<\/a><\/p>\n
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Stephanie Simon
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+1 617 581 9333
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stephanie@tenbridgecommunications.com<\/a><\/p>\n
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