SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For February 10, 2021
Commission File Number 001-39670
PURETECH HEALTH PLC
6 Tide Street, Suite 400
Boston, Massachusetts 02210
Attention: Chief Executive Officer
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On February 10, 2021, PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) issued a press release announcing its sale of 1,000,000 shares of common stock of its Founded Entity, Karuna Therapeutics, Inc. The press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.
|Press Release dated February 10, 2021, PureTech Receives Approximately $118 Million from Sale of Minority Portion of Founded Entity Shares
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|PURETECH HEALTH PLC
|Date: February 10, 2021
|Name: Daphne Zohar
|Title: Chief Executive Officer
10 February 2021
PureTech Health plc
PureTech Receives Approximately $118 Million from Sale of Portion of Founded Entity Shares
PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) (PureTech or the Company), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, announced that it has sold 1 million shares of its Founded Entity, Karuna Therapeutics (Karuna, Nasdaq: KRTX), through a block trade executed by Morgan Stanley & Co. LLC for cash consideration of approximately $118 million (the Transaction). PureTech intends to use the proceeds from the Transaction to further expand and advance its clinical-stage Wholly Owned Pipeline. PureTech intends to update financial guidance in connection with the issuance of its 2020 Annual Report and Accounts later this year.
Following the Transaction, PureTech continues to hold 2,406,564 shares of Karuna common stock, which is equal to approximately 9.0% of Karunas outstanding shares as of October 31, 2020. PureTech also has a right to royalty payments on net sales of any commercialized product covered by a license granted by PureTech to Karuna.
The Transaction was conducted pursuant to the authority granted by the Companys shareholders announced by the Company on August 26, 2020.
About Karuna Therapeutics
Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions. Karuna understands there is a need for differentiated and more effective treatments that can help patients navigate the challenges presented by these severe and disabling disorders. 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. For more information, please visit www.karunatx.com.
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, including intractable cancers, lymphatic and gastrointestinal diseases, central nervous system disorders and inflammatory and immunological diseases, among others. 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 PureTechs Founded Entities, as of the date of PureTechs most recently filed Registration Statement on Form 20-F, was comprised of 24 products and product candidates, including two that have received FDA clearance and European marketing authorization. All of the underlying programs and platforms that resulted in this pipeline of product candidates were initially identified or discovered and then advanced by the PureTech 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are or may be forward-looking statements, including statements that relate to the companys future prospects, developments, future plans, planned use of proceeds and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in PureTech Health plcs registration statement on Form 20-F, declared effective by the Securities and Exchange Commission on November 12, 2020 and other regulatory filings for PureTech Health plc. 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, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Allison Mead Talbot
+1 617 651 3156
Ben Atwell, Rob Winder
+44 (0) 20 3727 1000
+1 617 581 9333