PureTech Health

PRTC · Main Market · Health Care · mcap £262m · 111.0p

PureTech founds and part-owns biotech companies, developing some programmes itself before spinning them into separate 'Founded Entities' funded by outside investors. It earns returns through equity stakes, milestones and royalties.

Target	Promise	Said	Status
2025
30 Sep 2025	Report LYT-200 AML/MDS Phase 1b topline results by Q3 2025	30 Apr 2025	✗ Missed
	“Topline results are expected in Q3 2025” Result Timing moved to Q4 2025; efficacy data came 3 November and 5 December 2025. “topline efficacy readout and overall survival data expected in Q4 2025 and 1H 2026, respectively”3 Nov 2025 · New LYT-200 AML Data + Update at ASH
2026
30 Sep 2026	Initiate Phase 3 deupirfenidone IPF trial (end-2025, then H1 2026, then early Q3 2026)	17 Oct 2023	✗ Missed · target changed
	“proceeds supporting the planned early Q3 2026 initiation of the Phase 3 SURPASS-IPF trial of deupirfenidone” Also stated 1 May 2025 · 28 Aug 2025 · 2 Jul 2026 Result Goal slipped from end-2025 to H1 2026; first patient dosed 13 July 2026 after financing closed 2 July. “Proceeds enable Celea to initiate SURPASS-IPF, the first head-to-head Phase 3 trial in IPF, evaluating superiority of deupirfenidone as a potential new standard of care”2 Jul 2026 · $180M & Asset Transfer
Today · 11 Oct 2026
2027
30 Jun 2027	Secure external financing for Gallop/LYT-200 (first 2026, now H1 2027)	18 Dec 2025	✗ Missed · target changed
	“PureTech intends to secure external capital in the first half of 2027 to support the continued development of LYT-200” Also stated 21 Sep 2026 Result Target moved from 2026 to Q1 2027, then H1 2027. “Gallop intends to pursue third-party capital to support a potentially registration-enabling trial in R/R HR-MDS, with the round targeted to close in the first quarter of 2027.”29 Apr 2026 · Final Results “PureTech intends to leverage external capital to support the continued development of LYT-200 through the completion of the Phase 2 trial and expects to secure capital in the first half of 2027.”21 Sep 2026 · PRTC's Gallop: Positive FDA Meeting & Fast Track