PureTech Health

PRTC · Main Market · Health Care · mcap £270m · 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
2024
31 May 2024	Launch $100m tender offer at 250p in early May 2024	19 Mar 2024	◐ Partly kept
	“The Company expects to launch the Tender Offer in early May, subject to market conditions and shareholder approval.” Also stated 25 Apr 2024 Result Launched 20 May rather than early May; completed 24 June, repurchasing $100m of shares. “The Tender Offer opens today 20 May 2024.”20 May 2024 · Tender Offer “In total 31,540,670 Ordinary Shares (including Ordinary Shares represented by ADSs) will be purchased in accordance with the terms and subject to the conditions of the Tender Offer at the Tender Price, for a total cost of $100 million.”24 Jun 2024 · Result of Tender Offer
2025
30 Sep 2025	Meet FDA on deupirfenidone Phase 3 design by end of Q3 2025	30 Apr 2025	◐ Partly kept
	“targeting a meeting with the FDA before the end of the third quarter” Result Design update came 8 December 2025 (Q4), when FDA agreement on the Phase 3 design was announced. “Phase 3 SURPASS-IPF trial remains on track to be initiated by PureTech's Founded Entity, Celea Therapeutics, in the first half of 2026”8 Dec 2025 · Successful FDA Meeting; IPF Phase 3 in 1H26
2026
30 Jun 2026	Final LYT-200 overall survival data in H1 2026	30 Apr 2025	◐ Partly kept
	Result April 2026 data reported response rates; Phase 2 plan followed in September 2026. Final survival data not confirmed. “Initial median overall survival of 13.2 months observed in the combination cohort at the proposed Phase 2 dose, exceeding expected late-line relapsed/refractory setting survival of <2.5 months; overall survival data at this dose continue to mature with final results expected in 1H 2026”5 Dec 2025 · PRTC's Gallop: Positive Initial Topline AML Data “Due to the number of patients alive at the time of study completion (50%), the upper bound of overall survival could not be calculated; therefore, the median overall survival for this cohort of 8.2 months is not considered fully mature.”22 Apr 2026 · PRTC's Gallop: Positive Ph1 Topline MDS & AML Data
30 Jun 2026	Close Celea financing by H1 2026 (originally early 2026)	28 Aug 2025	◐ Partly kept
	“we expect to close within the first half of 2026” Result Targeted early Q3 2026 by April; $180m financing completed 2 July 2026, just after the H1 deadline. “PureTech Health plc (LSE: PRTC) ("PureTech", "Company") today announces that its Founded Entity, Celea Therapeutics Inc. ("Celea"), has completed a $180 million financing and associated asset transfer from PureTech (the "Transaction") with participation from a syndicate comprising top-tier healthcare investors, including RA Capital Management, Leaps by Bayer, and founder PureTech, alongside a large, U.S.-based healthcare-focused fund and a leading sovereign wealth fund (the "Celea Investors"). The Transaction establishes Celea as an independently funded company, with proceeds supporting the planned early Q3 2026 initiation of the Phase 3 SURPASS-IPF trial of deupirfenidone (LYT-100).”2 Jul 2026 · $180M & Asset Transfer