Founded Entities

PureTech's Founded Entities include 20 product candidates, 13 of which are clinical stage, and one product that has been cleared by the FDA.

All of these underlying programs and platforms were initially identified or discovered and then advanced by PureTech in collaboration with a cross-disciplinary group of experienced clinicians and the world’s leading experts. 

$668.8m


Secured for Founded Entities in 2019, 93.4% from Third Parties1

Controlling Interest or Right to Receive Royalties

Developing therapies for people with severe neuropsychiatric disorders and pain

18.1% Equity plus Royalties

PHASE 2 COMPLETE2

Targeting the GI system locally to treat the genesis of chronic disease

22.0% Equity plus Royalties

FDA CLEARED

A regenerative platform for hair growth

78.3% Equity plus Royalties

PHASE 3 READY

Targeting devastating GI disease

78.6% Equity

PRECLINICAL

Founded by scientific leaders in the fields of immunology and the microbiome

53.3% Equity

PHASE 2

Unlocking voice as a vital sign and meaningful predictor of health

45.9% Equity

PHASE 1

Engineering hydrogels to enable oral delivery of biologics

72.9% Equity

PRECLINICAL

Equity Interest Only

Digital therapeutics for people living with cognitive impairment

34.4% Equity

PURSUING FDA CLEARANCE

Engineered hematopoietic stem cells that unleash the potential of targeted therapies

28.1% Equity

PRECLINICAL

1. Funding figure includes private equity financings, public offerings or grant awards. Funding figure excludes upfront payments and future milestone considerations received in conjunction with partnerships and collaborations such as those with Roche, Boehringer Ingelheim, Imbrium Therapeutics L.P., Shionogi & Co., Ltd. or Eli Lilly.

2. Pending the outcome of an End-of-Phase 2 meeting with the FDA, Karuna expects to initiate a Phase 3 clinical trial.

Note: This figure represents the stage of development for each Founded Entity’s most advanced product candidate. While PureTech maintains ownership of equity interests in its Founded Entities, the Company does not, in all cases, maintain control over these entities (by virtue of (i) majority voting control and (ii) the right to elect representation to the entities’ board of directors) or direct the management and development efforts for these entities. Consequently, not all such entities are consolidated in the financial statements. Where PureTech maintains control, the entity is referred to as a Controlled Founded Entity in this report and is consolidated in the financial statements. Where PureTech does not maintain control, the entity is referred to as a Non-Controlled Founded Entity in this report and is not consolidated in the financial statements. As of 31 December 2019, Controlled Founded Entities include Alivio Therapeutics, Inc., Follica, Incorporated, Entrega, Inc., Vedanta Biosciences, Inc. and Sonde Health, Inc., and Non-Controlled Founded Entities include Akili Interactive Labs, Inc., Gelesis, Inc., Karuna Therapeutics, Inc., Vor Biopharma Inc. and, for all periods prior to December 18, 2019, resTORbio, Inc. Relevant ownership interests for Founded Entities were calculated on a diluted basis (as opposed to a voting basis) as of 31 December 2019 (with the exception of Gelesis ownership which is as of 1 April 2020), including outstanding shares, options and warrants, but excluding unallocated shares authorised to be issued pursuant to equity incentive plans. Ownership of Vor and Sonde is based on the assumption that all future tranches of their most recent financing rounds are funded. Karuna ownership is calculated on an outstanding voting share basis as of 26 May 2020.

Cash at PureTech Parent Level

$321.5m


PureTech Level Pro-forma Cash Reserves3


$120.6m


PureTech Level Cash Reserves as of 31 December 20194

3. PureTech Level Pro-forma Cash Reserves is an alternative performance measure (APM) which includes the PureTech Level Cash Reserves of $120.6 million and the $200.9 million in proceeds from the 22 January 2020 sale of 2.1 million Karuna common shares. PureTech Pro-forma Cash Reserves is therefore considered to be more representative of the Corporate’s cash available for the year 2020 and beyond to advance product candidates within the full breadth of its operations.

4. PureTech Level Cash Reserves represent cash balances and short-term investments held at PureTech Health LLC, PureTech Management, Inc., PureTech Health PLC, PureTech Securities Corporation of $112.0 million for the year ended 2019 and the internal pipeline of $8.6 million for the year ended 2019, all of which are wholly-owned entities of PureTech, excluding cash balances and short-term investments of Controlled Founded Entities. The balance excludes the $200.9 million in proceeds from the 22 January 2020 sale of 2.1 million Karuna common shares.

The BIG Idea - Moving medicine forward at PureTech

Collaborative drug discovery based on proprietary biological insights
Rapid & cost-efficient prioritization & validation
Develop internally, partner or spin-out
Collaborative drug discovery based on proprietary biological insights
Rapid & cost-efficient prioritization & validation
Develop internally, partner or spin-out

Relationships with 8 major pharma companies or their investment arms

Amgen Johnson & Johnson Lilly Merck Boehringer Ingelheim Bristol-Myers Squibb Teva Roche