(Alliance News) - Shares in PureTech Health PLC slipped Friday as the firm said an investee has ended development of a proposed drug following poor test results.
PureTech was trading 7.3% lower at 224.27 pence per share on Friday, the worst performer in the FTSE 250 index.
resTORbio Inc said top line data from a phase three study evaluating RTB101 as a prevention of symptomatic respiratory illness in adults older than 65 did not meet the primary goal.
As a result, resTORbio has ended the development of RTB101, an oral TORC1 inhibitor.
"While we are disappointed in these results, there are extensive preclinical data supporting the potential therapeutic benefit of TORC1 inhibition in multiple ageing-related diseases, including Parkinson's disease, for which we have an active phase 1b/2a trial of RTB101 alone or in combination with sirolimus," said Chen Schor, co-founder & chief executive of resTORbio.
"Multiple pre-clinical models have demonstrated that inhibition of TORC1 decreases protein and lipid synthesis, increases lysosomal biogenesis and stimulates the clearance of misfolded protein aggregates, such as toxic synucleins, that cause neuronal toxicity in Parkinson's disease."
"We remain committed to exploring the potential benefits of TORC1 inhibition in patients, and we look forward to the data from our Parkinson's disease trial, which we expect in mid-2020," Schor added.
By George Collard; georgecollard@alliancenews.com
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