PureTech Health PLC (LON:PRTC) affiliate resTORbio has raised US$40mln through an oversubscribed funding run led by OrbiMed.
Fidelity Management & Research Company, Rock Springs Capital, Quan Capital and Nest Bio took part and the funding brings equity investment in resTORbio so far this year to US$65mln.
Daphne Zohar, chief executive, said she was extremely pleased with the progress made by resTORbio, which has a programme for aging-related diseases and conditions that selectively targets TORC1, a key pathway involved in aging.
A Phase 2b clinical study is underway and designed to assess its safety, tolerability and efficacy reducing respiratory tract infections (RTIs) in the elderly.
Top-line results are expected in the second half of 2018.