LSE:PRTC

PureTech Launches Seaport Therapeutics with $100 Million Oversubscribed Series A and Announces Management Transitions

Retrieved on: 
Tuesday, April 9, 2024
Biotechnology, General Health, Health, Pharmaceutical, Clinical Trials, Depression, Eli Lilly, Major depressive disorder, Patient, Bristol Myers Squibb, PureTech Health, PRTC, Therapy, Creativity, Disorder, General counsel, CNS, Life, DSM-IV codes, Pleasure, Pharmacokinetics, Interim, Third Rock Ventures, U.S. FDA, Schizophrenia, KarXT, Teva Pharmaceuticals, ARCH Venture Partners, Merck, Anxiety, Merck & Co., Research and development, FDA, Lymphatic system, Hepatotoxicity, Sirna Therapeutics, Generalized anxiety disorder, Growth, Neuropsychiatry, Partner, Multimedia, Eli Lilly and Company, Probability, Liver, Medicine, Pharmaceutical industry

Following the Series A financing, PureTech will hold equity ownership in Seaport of 61.5 percent on a diluted basis.

Key Points: 
  • Following the Series A financing, PureTech will hold equity ownership in Seaport of 61.5 percent on a diluted basis.
  • Under its license agreement with Karuna, PureTech retains the right to receive milestone payments upon the achievement of certain regulatory approvals.
  • Eric Elenko, Ph.D., a PureTech co-founder and current Chief Innovation Officer, has been promoted to the role of President of PureTech.
  • Daphne Zohar, the Chief Executive Officer of Seaport, is the founder and former CEO of PureTech Health where she also co-founded Karuna Therapeutics.

PureTech Proposes $100 Million Capital Return

Retrieved on: 
Tuesday, March 19, 2024
Biotechnology, Pharmaceutical, Health, Schizophrenia, Patient, Share repurchase, Policy, Acquisition, PRTC, Tender offer, Therapy, Tender, Cryptocurrency

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announces a proposed capital return of $100 million to its shareholders by way of a tender offer (the “Tender Offer”).

Key Points: 
  • PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announces a proposed capital return of $100 million to its shareholders by way of a tender offer (the “Tender Offer”).
  • The capital return of $100 million represents approximately 14% of PureTech’s market capitalization based on yesterday’s closing price.
  • This follows the Company’s announcement that it will receive approximately $293 million gross proceeds from its remaining stake in Karuna.
  • PureTech aims to maintain at least three year’s cash runway, and the Board intends to evaluate its capital allocation policy regularly to assess opportunities for additional capital returns to shareholders, subject to the Company’s operational needs.

Bristol Myers Squibb Completes Acquisition of PureTech's Founded Entity Karuna Therapeutics for $14 Billion

Retrieved on: 
Monday, March 18, 2024
Mental Health, Health, Neurology, Clinical Trials, Pharmaceutical, Biotechnology, BMY, Psychosis, Bristol Myers Squibb, Citigroup, Growth, Schizophrenia, KarXT, Goldman Sachs, EPS, Patient, Neuroscience, Simpson Thacher & Bartlett, Acquisition, BMS, LLP, PRTC, Therapy, GAAP, Covington & Burling, Psychiatry, Bipolar I disorder, PDUFA, Pharmaceutical industry

The full text of the announcement from Bristol Myers Squibb is as follows:

Key Points: 
  • The full text of the announcement from Bristol Myers Squibb is as follows:
    Bristol Myers Squibb Completes Acquisition of Karuna Therapeutics, Strengthening Neuroscience
    PRINCETON, N.J.-- Bristol Myers Squibb (NYSE: BMY) today announced that it has successfully completed its acquisition of Karuna Therapeutics, Inc. (“Karuna”).
  • With the acquisition's completion, Karuna shares have ceased trading on the Nasdaq Global Select Market and Karuna is now a wholly owned subsidiary of Bristol Myers Squibb (“BMS”).
  • “We are excited to expand our neuroscience portfolio as we welcome Karuna to Bristol Myers Squibb,” said Chris Boerner, Ph.D., Chief Executive Officer, Bristol Myers Squibb.
  • Gordon Dyal & Co. and Citi are serving as financial advisors to Bristol Myers Squibb, and Covington & Burling LLP is serving as legal counsel.

PureTech Receives Orphan Drug Designation for LYT-200 in Acute Myeloid Leukemia

Retrieved on: 
Wednesday, March 13, 2024
Oncology, FDA, Health, Clinical Trials, Pharmaceutical, Biotechnology, Diagnosis, Head, Survival, Massachusetts General Hospital, AML, Patient, Doctor of Philosophy, MD, PRTC, HMA, Hospital, Bone marrow, MDS, Immunoglobulin G, Food, Person, Pharmaceutical industry

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to LYT-200 for the treatment of AML.

Key Points: 
  • PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to LYT-200 for the treatment of AML.
  • LYT-200 is a fully human IgG4 monoclonal antibody (mAb) targeting galectin-9, a potent oncogenic driver in leukemia cells and an immunosuppressive protein.
  • “Orphan drug designation from the FDA validates our belief that targeting galectin-9 with LYT-200 is a novel, promising approach that may offer patients a better tolerated, more effective treatment,” notes Aleksandra Filipovic, MD, PhD, Head of Oncology at PureTech.
  • The FDA grants orphan drug designation to novel drug and biologic products for the treatment, diagnosis, or prevention of conditions affecting fewer than 200,000 persons in the U.S. Orphan drug designation qualifies PureTech for incentives under the Orphan Drug Act, including tax credits for some clinical trials and eligibility for seven years of market exclusivity in the U.S., if the drug is approved for AML.

PureTech to Present at Two Upcoming Investor Conferences

Retrieved on: 
Tuesday, February 27, 2024
Research, Infectious Diseases, FDA, Clinical Trials, Biotechnology, Health, Pharmaceutical, General Health, Science, PRTC, Patient

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that members of the management team will participate at two upcoming investor conferences.

Key Points: 
  • PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that members of the management team will participate at two upcoming investor conferences.
  • Webcasts of the presentations will be available at https://investors.puretechhealth.com .
  • Presenters: Daphne Zohar, Founder and Chief Executive Officer, and Eric Elenko, Ph.D., Chief Innovation Officer

PureTech Founded Entity Akili Announces Positive Results from Shionogi’s Phase 3 Clinical Trial of Localized Version of Akili’s EndeavorRx ® for Pediatric ADHD Patients in Japan

Retrieved on: 
Tuesday, February 27, 2024
Science, Other Science, Biotechnology, Research, Pharmaceutical, General Health, Health, Clinical Trials, Shionogi, Ministry, PRTC, Marketing, FDA, Food, Safety, Welfare, Patient, ADHD, Ageing, Pharmaceutical industry

"We are pleased by this additional validation of Akili’s EndeavorRx,” said Eric Elenko, Ph.D., Chief Innovation Officer at PureTech.

Key Points: 
  • "We are pleased by this additional validation of Akili’s EndeavorRx,” said Eric Elenko, Ph.D., Chief Innovation Officer at PureTech.
  • “The latest Japanese clinical trial of our patented, clinically proven technology is an important milestone for many reasons,” said Dr. Scott Kollins, Chief Medical Officer at Akili.
  • The trial aimed to evaluate the efficacy and safety of SDT-001 in 164 pediatric ADHD patients aged 6 to 17 who received conventional treatments such as environmental adjustments and psychosocial therapies.
  • Furthermore, symptom improvements were sustained even after two cycles of SDT-001 use, with no safety concerns noted.

PureTech to Present at 42nd Annual J.P. Morgan Healthcare Conference

Retrieved on: 
Wednesday, January 3, 2024
Biotechnology, FDA, Health, Pharmaceutical, Clinical Trials, PRTC, Daphne, PST, EST, Conference, Patient

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that Daphne Zohar, Founder and Chief Executive Officer, will present at the 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 9:00 a.m. PST / 12:00 p.m. EST.

Key Points: 
  • PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that Daphne Zohar, Founder and Chief Executive Officer, will present at the 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 9:00 a.m. PST / 12:00 p.m. EST.
  • A webcast of the presentation will be available at https://investors.puretechhealth.com .

PureTech Founded Entity Karuna Therapeutics to be Acquired by Bristol Myers Squibb for $14 Billion

Retrieved on: 
Friday, December 22, 2023
Neurology, Biotechnology, Pharmaceutical, General Health, Health, FDA, Mental Health, Clinical Trials, Akathisia, BMY, Conference, Cognition, Food, Bristol Myers Squibb, Simpson Thacher & Bartlett, Treatment, Drug development, Extrapyramidal symptoms, PRTC, Psychiatry, Bipolar I disorder, Acquisition, PDUFA, Psychosis, Conference call, NDA, KRTX, Prolactin, Citigroup, Therapy, Covington & Burling, M1, Goldman Sachs, Weight gain, Growth, Webcast, Patient, Safety, M4, Pharmaceutical industry

The transaction was unanimously approved by both the Bristol Myers Squibb and Karuna Boards of Directors.

Key Points: 
  • The transaction was unanimously approved by both the Bristol Myers Squibb and Karuna Boards of Directors.
  • ET
    PRINCETON, N.J. & BOSTON -- Bristol Myers Squibb (NYSE: BMY) and Karuna Therapeutics, Inc. (NASDAQ: KRTX) (“Karuna”) today announced that they have entered into a definitive merger agreement under which Bristol Myers Squibb has agreed to acquire Karuna for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired.
  • The transaction was unanimously approved by both the Bristol Myers Squibb and Karuna Boards of Directors.
  • Gordon Dyal & Co. and Citi are serving as financial advisors to Bristol Myers Squibb, and Covington & Burling LLP is serving as legal counsel.

PureTech Year End Update and Outlook for 2024

Retrieved on: 
Wednesday, December 20, 2023
Research, FDA, Clinical Trials, Biotechnology, Health, Pharmaceutical, Other Science, Science, Oncology

Key catalysts expected in 2024 include results from idiopathic pulmonary fibrosis (IPF) late-stage trial of LYT-100 in Q4 2024.

Key Points: 
  • Key catalysts expected in 2024 include results from idiopathic pulmonary fibrosis (IPF) late-stage trial of LYT-100 in Q4 2024.
  • Daphne Zohar, Founder and Chief Executive Officer of PureTech, commented: “PureTech has had a particularly productive year.
  • It also builds on the success PureTech has achieved in the neuroscience arena with the same strategy and team at PureTech that invented KarXT.
  • Announced it plans to submit data to the FDA to convert its pediatric prescription product, EndeavorRx, to OTC in 2024.

PureTech Presents Data from Phase 1 Trial of LYT-200 Targeting Galectin-9 in Solid Tumors at the ESMO Immuno-Oncology Congress 2023

Retrieved on: 
Thursday, December 7, 2023
Oncology, Health, FDA, General Health, Clinical Trials, Pharmaceutical, Biotechnology, UCLA, Neck, The, Tislelizumab, Apoptosis, BeiGene, Head, Colorectal cancer, Acute myeloid leukemia, PureTech Health, Carcinoma, Mortality, ESMO, Patient, LSE, PRTC, Bone marrow, Pharmaceutical industry, Medicine

LYT-200 is an anti-galectin-9 antibody being evaluated as a monotherapy and in combination with tislelizumab, an anti-PD-1 antibody developed by BeiGene, in metastatic solid tumors, including urothelial and head and neck cancers.

Key Points: 
  • LYT-200 is an anti-galectin-9 antibody being evaluated as a monotherapy and in combination with tislelizumab, an anti-PD-1 antibody developed by BeiGene, in metastatic solid tumors, including urothelial and head and neck cancers.
  • LYT-200 is also in development for the treatment of hematological malignancies, such as acute myeloid leukemia.
  • The monotherapy arm of the trial has been completed, and the clinically relevant dose was selected for the Phase 2 portion of the trial.
  • The poster titled “Phase 1/2 Trial of Galectin-9 Antibody LYT-200 +/- Tislelizumab” will be presented today at The ESMO Immuno-Oncology Congress 2023, which is taking place in Geneva, Switzerland.