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(Sharecast News) - PureTech Health announced the launch of Celea Therapeutics on Tuesday, a new company focused on developing treatments for serious respiratory diseases, led by former Teva North America chief executive Sven Dethlefs.
The London-listed firm said Celea's lead programme is deupirfenidone (LYT-100), a phase three-ready candidate for idiopathic pulmonary fibrosis (IPF) and other fibrotic and inflammatory lung conditions.
It said the therapy had the potential to offer best-in-class efficacy with improved safety and tolerability compared with existing treatments, addressing key limitations that had constrained uptake and adherence.
A meeting with the US Food and Drug Administration to discuss phase three trial plans is expected by the end of the third quarter.
"Bringing meaningful innovation to patients with serious diseases has been a consistent theme throughout my career, and I believe deupirfenidone has the potential to be a true turning point in the treatment of IPF," said Sven Dethlefs.
"Our phase 2b data demonstrated the potential for best-in-class efficacy with a favorable safety and tolerability profile - addressing two of the most critical limitations of current therapies."
PureTech completed a successful phase 2b trial in December, with results showing the potential to stabilise lung function decline over 26 weeks, and early open-label extension data indicating the effect could continue for at least 52 weeks.
The company said it woud seek third-party funding to advance Celea through phase three and possible commercialisation, in line with its capital-efficient model.
"The launch of Celea is an important value driver for PureTech," commented interim chief executive Robert Lyne.
"Sven brings deep experience in respiratory medicine and a strong track record of commercial success, including having played a critical role in the growth of Austedo, a deuterated medicine developed using the same underlying chemistry approach as deupirfenidone.
"He is uniquely suited to lead Celea and advance this important programme."
At 1233 BST, PureTech Health shares were down 0.93% at 128.4p.
Reporting by Josh White for Sharecast.com.