PureTech collaborates on ALV-107, a non-opioid product candidate

Biopharma company PureTech Health (LSE: PRTC) says that privately-held  Purdue Pharma and Alivio Therapeutics, an affiliate of PureTech Health, today announced that they have entered into a partnership to advance Alivio’s product candidate ALV-107, a non-opioid treatment being developed for interstitial cystitis/bladder pain syndrome (IC/BPS), through clinical development.

Under the terms of the agreement, Alivio will receive up to $14.75 million in upfront and near-term license exercise payments and is eligible to receive royalties on product sales and over $260 million in R&D milestones. Purdue also has an option to collaborate on a limited number of additional compounds utilizing Alivio’s inflammation-targeting technology, as well as an option to invest in Alivio’s next equity financing.

“This collaboration with Alivio is an important milestone in our continued pursuit of non-opioid treatments for pain and represents yet another step to further diversify our portfolio,” said Dr Craig Landau president and chief executive of Purdue Pharma, adding: “We are impressed with Alivio’s innovative platform technology as we focus on addressing patient needs – especially in areas where there are few efficacious treatment options.”