Celea Therapeutics, linked to PureTech Health, has completed a $180 million financing round for a late-stage trial of its lung disease drug, deupirfenidone, in patients with idiopathic pulmonary fibrosis (IPF).
Lung Disease Treatment
Deupirfenidone is an experimental drug designed to slow or prevent lung scarring with improved tolerability, potentially making patients more likely to stick to their treatments than with existing medications.
Celea expects to start a head-to-head trial in the third quarter. The financing round was participated in by PureTech, RA Capital, Leaps by Bayer, and a sovereign wealth fund.
PureTech contributed $30 million to the financing and is reserving $70 million to support Celea in the future. After the financing, PureTech will hold a 35.4% stake in the biotech and is entitled to receive tiered royalties on annual net sales of Celea’s products using deupirfenidone technology.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
