PureTech Health explained

PureTech Health
Type:Public
Foundation:2005
Key People:Christopher Viehbacher (Chairman)
Daphne Zohar (CEO)
Location:Boston, United States
Industry:Healthcare
Products:Medicines
Revenue: $3.3 million (2023)[1]
Operating Income: $(146.2) million (2023)
Net Income: $(66.6) million (2023)

PureTech Health is a biotechnology company which develops medicines to combat serious diseases. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The company was founded by Daphne Zohar, an American entrepreneur, in 2005.[2] It was the subject of an initial public offering on the London Stock Exchange in June 2015.[3]

Operations

Companies which PureTech Health founded include Karuna Pharmaceuticals,[4] Gelesis, which has received FDA approval as a treatment for weight management,[5] Akili Interactive Labs, which is developing a digital therapeutic platform for cognitive disorders,[6] Vedanta Biosciences, which is developing drugs to treat autoimmune and inflammatory diseases,[7] and Follica which is developing new treatments for androgentic alopecia among others.[8] PureTech also has a pipeline of its own immunology, lymphatic and oncology based therapeutics.[9]

Notes and References

  1. Web site: Annual Results 2023. PureTech Health. 26 April 2024.
  2. Web site: PureTech's long view on biopharma. 26 August 2015. Boston Globe. 16 August 2019. 16 August 2019. https://web.archive.org/web/20190816170208/https://www.bostonglobe.com/business/2015/08/26/puretech-building-new-life-sciences-model-intellectual-property-commercialization/dKja5YbhF7GVHEcY8zWCEI/story.html. live.
  3. Web site: PureTech banks $171M in a London IPO to fund its biotech bets. Fierce Biotech. 19 June 2015. 16 August 2019. 16 August 2019. https://web.archive.org/web/20190816170210/https://www.fiercebiotech.com/r-d/puretech-banks-171m-a-london-ipo-to-fund-its-biotech-bets. live.
  4. Web site: PureTech Health surges as Karuna investment rockets 442%. Proactive Investors. 19 November 2019. 14 December 2019. 14 December 2019. https://web.archive.org/web/20191214110539/https://www.proactiveinvestors.co.uk/companies/news/907353/puretech-health-surges-as-karuna-investment-rockets-442-907353.html. live.
  5. Web site: Gelesis raises $12 million for pill that staves off hunger. May 16, 2014. BetaBoston.com. December 14, 2019. August 3, 2014. https://web.archive.org/web/20140803200330/http://betaboston.com/news/2014/05/16/gelesis-raises-12-million-for-hunger-pill/. live.
  6. Web site: Akili Interactive adds $13 million to Series C funding pool. The Pharma Letter. 9 August 2018. 14 December 2019. 14 December 2019. https://web.archive.org/web/20191214110521/https://www.thepharmaletter.com/article/akili-interactive-adds-13-million-to-series-c-funding-pool. live.
  7. Web site: PureTech Health affiliate Vedanta Biosciences awarded $5.8m grant. Sharecast. 5 December 2019. 14 December 2019. 14 December 2019. https://web.archive.org/web/20191214110624/https://www.sharecast.com/news/news-and-announcements/puretech-health-affiliate-vedanta-biosciences-awarded-58m-grant--7147940.html. live.
  8. Web site: Positive Results From PureTech Affiliate Male Pattern Hair Loss Study. Morning Star. 13 June 2019. 14 December 2019. 1 March 2020. https://web.archive.org/web/20200301121539/https://www.morningstar.co.uk/IntroPage.aspx?site=uk&backurl=https%3A%2F%2Fwww.morningstar.co.uk%2Fuk%2Fnews%2FAN_1560435556291660600%2Fpositive-results-from-puretech-affiliate-male-pattern-hair-loss-study.aspx. live.
  9. Web site: PureTech Licenses Glyph Lymphatic Technology. FT. 29 August 2017. 14 December 2019. 15 January 2020. https://web.archive.org/web/20200115035342/https://markets.ft.com/data/announce/detail?dockey=1323-13343357-4LIOM2OIF3P71MDJPUODAHAIPL. live.