PureTech Founded Entity Seaport Therapeutics Adds Sandi Peterson to its Board of Directors

Rhea-AI Summary

PureTech Health (Nasdaq: PRTC) announced that its Founded Entity, Seaport Therapeutics, has appointed Sandi Peterson to its Board of Directors. Peterson, currently Lead Independent Director at Microsoft and Operating Partner at Clayton, Dubilier & Rice, brings significant experience from her previous role as Group Worldwide Chair at Johnson & Johnson. Her appointment strengthens Seaport's leadership as the company advances its development of novel neuropsychiatric medicines. Peterson's extensive background includes executive positions at Bayer, Medco Health Solutions, and Nabisco, with recognition from Fortune Magazine's Most Powerful Women in Business list.

Positive

• Addition of high-profile board member with extensive life sciences and operational experience
• Strategic leadership enhancement from former J&J Group Worldwide Chair
• Strengthened corporate governance through experienced Microsoft Lead Independent Director

Negative

• None.

Lead Independent Director at Microsoft and former Group Worldwide Chair for Johnson & Johnson brings extensive experience in life sciences innovation, governance and operations

BOSTON--(BUSINESS WIRE)-- PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted that its Founded Entity, Seaport Therapeutics, (“Seaport”) a biopharmaceutical company that is advancing novel neuropsychiatric medicines with a proven strategy and team, today announced that Sandra (Sandi) Peterson has been appointed to its Board of Directors. Ms. Peterson is a prominent and seasoned business leader with extensive experience driving innovation and operational excellence across leading global life sciences and consumer organizations.

The full text of the announcement from Seaport is as follows:

Seaport Therapeutics Adds Sandi Peterson to its Board of Directors

Lead Independent Director at Microsoft and former Group Worldwide Chair for Johnson & Johnson brings extensive experience in life sciences innovation, governance and operations

BOSTON, November 20, 2024 – Seaport Therapeutics (“Seaport” or the “Company”), a clinical-stage biopharmaceutical company that is advancing novel neuropsychiatric medicines with a proven strategy and team, today announced that Sandra (Sandi) Peterson has been appointed to its Board of Directors. Ms. Peterson is a prominent and seasoned business leader with extensive experience driving innovation and operational excellence across leading global life sciences and consumer organizations.

Ms. Peterson has held a series of high-profile leadership roles over the course of her career. Currently, she is an Operating Partner at Clayton, Dubilier & Rice, (CD&R), a private investment firm, where she invests in life sciences and consumer companies and oversees technology initiatives to enhance performance of the firm’s portfolio companies. Prior to joining CD&R in 2019, Ms. Peterson was Group Worldwide Chair for Johnson & Johnson (J&J), where she led the company’s consumer and medical devices businesses and was responsible for global operating infrastructure, technology, supply chain, quality and key strategic initiatives.

“Sandi has garnered a wealth of experience over the course of her impressive career that will be a tremendous asset to Seaport as we advance novel neuropsychiatric medicines for patients and their families,” said Daphne Zohar, Founder and Chief Executive Officer of Seaport Therapeutics. “We are fortunate to have excellent individuals on our Board of Directors who each contribute unique expertise, and Sandi’s proven ability to drive innovation and scale global businesses will be particularly meaningful as we accelerate development of our pipeline.”

Previously, Ms. Peterson served as Chairman & CEO of Bayer CropScience AG, CEO of Bayer Medical Care, and President of Bayer HealthCare AG’s Diabetes Care Division. She held executive positions at Medco Health Solutions (formerly known as Merck-Medco), Nabisco, Whirlpool and McKinsey. In addition to her Board position at Seaport, Ms. Peterson serves on the Microsoft Board of Directors as the lead independent director; Executive Chairwoman of Volastra Therapeutics; Board Chair of the American Academy in Berlin and Executive Committee Member of the Institute for Advanced Study.

“Seaport’s innovative approach to developing new medicines for neuropsychiatric conditions has the potential to radically transform the treatment landscape for patients, particularly for those suffering from depression and anxiety,” said Ms. Peterson. “I look forward to working with Seaport’s excellent leadership team and Board to drive forward our commitment to improve patient outcomes through science and innovation.”

Ms. Peterson has appeared on Fortune Magazine’s list of Most Powerful Women in Business numerous times and was featured on the magazine’s inaugural list of Leaders Who Are Changing Healthcare. She received her B.A. from Cornell University and her M.P.A. from Princeton University.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company advancing the development of novel neuropsychiatric medicines in areas of high unmet patient needs. The Company has a proven strategy of advancing clinically validated mechanisms previously held back by limitations that are overcome with its proprietary Glyph technology platform. All the therapeutic candidates in its pipeline of first and best-in-class medicines are based on the Glyph platform, which is uniquely designed to enable oral bioavailability, bypass first-pass metabolism and reduce liver enzyme elevations or hepatotoxicity and other side effects. Seaport is led by an experienced team that invented and advanced important neuropsychiatric medicines and are guided by an extensive network of renowned scientists, clinicians and key opinion leaders. For more information, please visit www.seaporttx.com.

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to giving life to new classes of medicine to change the lives of patients with devastating diseases. The Company has created a broad and deep pipeline through its experienced research and development team and its extensive network of scientists, clinicians and industry leaders that is being advanced both internally and through its Founded Entities. PureTech's R&D engine has resulted in the development of 29 therapeutics and therapeutic candidates, including three that have been approved by the U.S. Food and Drug Administration. A number of these programs are being advanced by PureTech or its Founded Entities in various indications and stages of clinical development, including registration enabling studies. All of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the PureTech team through key validation points.

For more information, visit www.puretechhealth.com or connect with us on X (formerly Twitter) @puretechh.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation those related to Seaport’s development plans for its pipeline of therapeutics for the treatment of depression, anxiety and other neuropsychiatric disorders, potential benefits to patients, and Seaport’s and our future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks, uncertainties and other important factors described under the caption "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC and in our other regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the Company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, we disclaim any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241120538306/en/

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Source: PureTech Health plc

FAQ

Who is Sandi Peterson and what is her role at Seaport Therapeutics (PRTC)?

Sandi Peterson has been appointed to Seaport Therapeutics' Board of Directors. She is currently Microsoft's Lead Independent Director and Operating Partner at Clayton, Dubilier & Rice, with previous experience as Group Worldwide Chair at Johnson & Johnson.

What is Seaport Therapeutics' (PRTC) main business focus?

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on advancing novel neuropsychiatric medicines, particularly for conditions like depression and anxiety.

What was Sandi Peterson's role at Johnson & Johnson before joining Seaport (PRTC)?

As Group Worldwide Chair at Johnson & Johnson, Peterson led the company's consumer and medical devices businesses and was responsible for global operating infrastructure, technology, supply chain, quality and key strategic initiatives.