PureTech Health plc American Depositary Shares - PRTC STOCK NEWS

PureTech Health (LSE: PRTC, Nasdaq: PRTC) has sold 1 million shares of Karuna Therapeutics (Nasdaq: KRTX) for approximately $118 million via a block trade executed by Morgan Stanley. The company plans to utilize the proceeds to enhance its clinical-stage pipeline. After the sale, PureTech holds about 9% of Karuna's outstanding shares, totaling 2,406,564 shares. The transaction was authorized by shareholders on August 26, 2020, and PureTech will update its financial guidance in its upcoming 2020 Annual Report.

Vedanta Biosciences has appointed Mark Mullikin as the new Chief Financial Officer. Mullikin brings 25 years of experience from roles in finance and investor relations at companies like Editas Medicine and Novartis. His expertise includes raising $700 million in equity capital at Editas. The company is recognized for pioneering a new category of therapies utilizing human microbiome-derived bacteria. Mullikin expressed enthusiasm about joining Vedanta at a critical growth phase, with key clinical trial results expected this year.

PureTech Health (LSE: PRTC, NASDAQ: PRTC) announced the appointment of Mark Mullikin as Chief Financial Officer of its Founded Entity, Vedanta Biosciences. With 25 years of experience in life sciences finance, Mullikin previously raised $700 million in equity capital at Editas Medicine. His expertise includes strategic roles at Novartis and equity analysis at Adage Capital Management. Vedanta is pioneering therapies based on microbiome-derived bacteria for immune-mediated diseases, with significant clinical trial readouts expected this year.

PureTech Health announces that its founded entity, Vor Biopharma, has priced its initial public offering (IPO) of 9,828,017 shares at $18.00 each, raising approximately $176.9 million before expenses. The shares are slated to start trading on Nasdaq under the symbol VOR on February 5, 2021, with the offering expected to close by February 9, 2021. Following the IPO, PureTech will hold 3,207,200 shares of Vor, representing about 9.0% of its outstanding shares.

PureTech Health (LSE: PRTC, Nasdaq: PRTC) has announced the appointment of Bharatt Chowrira, Ph.D., J.D., as an executive director on its Board, effective February 1, 2021. Dr. Chowrira, who has been with the company since March 2017, continues as President and Chief of Business and Strategy. His extensive experience includes prior roles at Synlogic and Auspex Pharmaceuticals. CEO Daphne Zohar expressed confidence in Dr. Chowrira's contributions to advancing PureTech’s clinical pipeline and addressing critical health challenges.

PureTech Health (LSE: PRTC, NASDAQ: PRTC) announces that its Founded Entity, Vor Biopharma, has received FDA clearance for its Investigational New Drug (IND) application for VOR33. This engineered hematopoietic stem cell (eHSC) therapy targets acute myeloid leukemia (AML) patients at high risk of relapse. Vor plans to start a Phase 1/2a clinical trial for VOR33 in the first half of 2021, aiming to improve post-transplant outcomes and patient survival rates. The therapy is designed to be resistant to standard CD33-targeted treatments, marking a significant advancement in AML treatment.

Follica Inc. has appointed two experienced biotech executives, Tom Wiggans and Michael Davin, to its Board of Directors. Wiggans, former CEO of Dermira, will serve as Executive Chairman, bringing over 30 years of experience and leadership in biopharmaceuticals, including guiding Dermira through a successful acquisition for $1.1 billion. Davin, who has significant experience in the medical device industry, including leading Cynosure through an IPO, joins as an independent member. The company is gearing up for a Phase 3 study in male androgenetic alopecia, identifying substantial market potential.

PureTech Health (LSE: PRTC, NASDAQ: PRTC) celebrates the addition of two seasoned biotech executives to the Board of Directors of its Founded Entity, Follica. Tom Wiggans, former CEO of Dermira, becomes Executive Chairman, bringing over 30 years of biopharmaceutical experience, including successful Phase 3 trials and a $1.1 billion acquisition. Michael Davin, ex-CEO of Cynosure, joins as an independent board member, enhancing Follica's expertise in medical devices. This leadership change coincides with Follica's Phase 3 study launch for male androgenetic alopecia, potentially impacting 90 million U.S. individuals.

Vedanta Biosciences has secured a $25 million investment from Pfizer under its Breakthrough Growth Initiative. This funding will support a Phase 2 study of VE202 for treating inflammatory bowel disease (IBD), expected to start in 2021. Preliminary data from a Phase 1 study indicates that VE202 is safe and promotes durable colonization. IBD affects 1.6 million Americans, highlighting the urgent need for new treatments. Pfizer's Dr. Michael Vincent will join Vedanta's Scientific Advisory Board. Importantly, Vedanta retains control of its programs while granting Pfizer a right of first negotiation on VE202.