PureTech Receives Approximately $100 Million from Sale of a Portion of Founded Entity Shares
Summary
PureTech Receives Approximately from of a Portion of Founded Entity Shares(Nasdaq: PRTC, LSE: PRTC) (" " or the "Company"), a clinical-stage biotherapeutics company, today announces that it has sold 750,000 shares of its Founded Entity, Karuna Therapeutics ("Karuna," Nasdaq: KRTX), through a block trade executed by for cash consideration of approximately (the "Transaction"). is eligible to receive certain payments from Karuna under its license agreement, including sublicense payments and royalties on any sales of KarXT.The Transaction constitutes a class 2 transaction for the purposes of the Listing Rules.Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions. Utilizing its extensive knowledge of neuroscience, Karuna is harnessing the untapped potential of the brain in pursuit of novel pathways to develop medicines that make meaningful differences in peoples lives. The Company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which is being advanced both internally and through Founded Entities, is comprised of 25 therapeutics and therapeutic candidates, including two that have received both FDA clearance and European marketing authorization, as of the date of most recently filed Half Year Report and corresponding Form 6- of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the team through key validation points based on the Companys unique insights into the biology of the brain, immune and gut, or BIG, systems and the interface between those systems, referred to as the BIG Axis.For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.