Imbrium Therapeutics L.P. Exercising Option with PureTech Health to Develop and Commercialize a Non-Opioid Interstitial Cystitis/Bladder Pain Syndrome Treatment
STAMFORD, Conn. – August 11, 2021 – Imbrium Therapeutics L.P. (“Imbrium”), a subsidiary of Purdue Pharma L.P. (“Purdue”), announced today that it has exercised its option to acquire from PureTech Health PLC (“PureTech”), a worldwide exclusive license to develop, manufacture and commercialize IMB-150 (developed from PureTech’s AlivioTM technology platform and formerly designated as ALV-107), a non-opioid treatment currently being developed for interstitial cystitis/bladder pain syndrome (IC/BPS).*
PureTech will receive a one-time option exercise fee of $6.5 million, and is eligible to receive up to $53.25 million in development/regulatory and sales milestones plus royalties on worldwide sales. PureTech retains all rights to all other candidates from its Alivio platform.
“We continue to diversify our portfolio with non-opioid treatments for pain and are pleased to progress this novel lidocaine-based drug candidate, made using the Alivio technology, into clinical testing,” said Dr. Julie Ducharme, vice president, chief scientific officer, and public health initiatives co-lead, Purdue Pharma. “We are grateful for PureTech’s work and, in particular, the application of their innovative platform technology designed to address a range of inflammatory conditions; this technology has helped progress this potential treatment in an area where there are few effective treatment options.”
PureTech’s inflammation-targeting technology is designed to enable therapeutics such as small molecules, biologics and nucleic acids to act preferentially at sites of inflammation, while minimizing effects on healthy tissue.
Pure Tech’s Alivio technology platform has demonstrated proof-of-concept in ten different preclinical models of inflammation including a validated preclinical model for the treatment of IC/BPS. IMB-150 relieved pain at all study time points post therapy (vs. vehicle-only control: at 2 hr, p=0.002; 4 hr, p=0.002; 24 hr, p=0.0003). In contrast, the conventional lidocaine-treated group showed statistically significant pain relief only 2 hours post-treatment (p=0.030). Safety and efficacy of IMB-150 will be evaluated during a clinical development program.
Interstitial Cystitis or Bladder Pain Syndrome (IC/BPS) is a chronic bladder condition that consists of discomfort or pain in the bladder or surrounding pelvic region and is often associated with frequent urination. It is estimated that IC may affect up to 12 million people in the U.S., is more common in women than men, and only approximately 7% of these patients receive a confirmed diagnosis. Current treatments fail to adequately control pain in many patients.
*This press release discusses investigational uses of an agent in development and is not intended to convey conclusions about efficacy or safety. There is no guarantee that the medication listed in this release will successfully complete development or gain FDA approval.
About Imbrium Therapeutics L.P.
Imbrium is a clinical-stage biopharmaceutical company dedicated to advancing medical science through the development of important new pharmacologic and biologic therapeutics. We are pursuing oncology chemotherapeutics, treatments for disorders of the central nervous system, and non-opioid approaches to the management of pain. As a subsidiary of Purdue Pharma L.P., Imbrium strives to develop and bring to market new medicines that serve the unmet needs of patients, physicians and health systems worldwide. We have built a robust and diversified pipeline of investigational drug candidates, and we actively collaborate with industry and academic partners to identify and advance future impactful medicines. For more information, please visit www.imbriumthera.com.