# PureTech Health Receives Approximately $100 Million from Sale of a Portion of Founded Entity Shares

- Link: https://www.directorstalkinterviews.com/puretech-health-receives-approximately-100-million-from-sale-of-a-portion-of-founded-entity-shares/4121032504
- Published: 2021-11-10T08:06:11+00:00
- Author: Giles

**PureTech Health plc** (Nasdaq: PRTC, LON:PRTC), a clinical-stage biotherapeutics
company, today announced that it has sold 750,000 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 $100 million. PureTech
intends to use the proceeds from the Transaction to further the advancement and 
growth of the Company and will update its cash runway guidance in due course.

Following the Transaction, PureTech continues to hold 1,656,564 of Karuna common
stock, which is equal to approximately 5.6% of Karuna’s outstanding shares as of
September 30, 2021. PureTech is eligible to receive certain payments from Karuna
under its license agreement, including sublicense payments and royalties on any 
sales of KarXT.

**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.

**PureTech Health**

PureTech is a clinical-stage biotherapeutics company dedicated to discovering, developing
and commercializing highly differentiated medicines for devastating diseases, including
inflammatory, fibrotic and immunological conditions, intractable cancers, lymphatic
and gastrointestinal diseases and neurological and neuropsychological disorders,
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 PureTech’s Founded Entities, is comprised of 25 therapeutics and therapeutic
candidates, including two that have received both U.S. FDA clearance and European
marketing authorization, as of the date of PureTech’s most recently filed Half Year
Report and corresponding Form 6-K. 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
based on the Company’s 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.

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