Issue Date: April 3, 2017
PureTech, Novartis create resTORbio
PureTech Health, an R&D and venture investment firm, has licensed two clinical-stage drug programs from Novartis and will create a subsidiary called resTORbio to further develop them. PureTech is putting about $15 million toward the effort in exchange for a 58% ownership stake. Novartis will also get an interest in resTORbio and be eligible for milestone payments and royalties. The drug candidates target inhibition of the mechanistic target of rapamycin complex 1 pathway in age-related immune conditions.
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