PureTech Health snags $100M to fund affiliates; PolyPid takes a third stab at IPO
→ London-listed, Boston-based PureTech Health has bagged $100 million (£72 million) in a placing to continue funding its biotech affiliates — a fairly diverse group that includes weight loss treatment developer Gelesis, anti-aging startup resTORbio and digital therapeutics company Akili Interactive. The proceeds will be divided between three types of programs: more advanced ones like Akili’s video game for ADHD, which is in PhIII; assets making the leap from PhI to PhII/III; and preclinical lymphatic biology-focused candidates looking to enter the clinic. “We are confident that our entrepreneurial and flexible structure will continue to yield successes in the years to come, and we are grateful for the tremendous support from a broad group of existing as well as new investors in this placing,” said PureTech CEO Daphne Zohar in a statement. “And most importantly, for sharing our vision of building a new kind of biopharmaceutical company positioned to deliver novel categories of medicine to patients.”
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