TIDMPRTC
RNS Number : 7256R
PureTech Health PLC
09 November 2021
9 November 2021
PureTech Health plc
PureTech Announces Participation at the Jefferies London
Healthcare Conference
Company reports PureTech Level Cash and Cash Equivalents of
$387.3 million(1) and Consolidated Cash and Cash Equivalents of
$441.0 million(2) as of September 30, 2021
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the
"Company"), a clinical-stage biotherapeutics company dedicated to
discovering, developing and commercializing highly differentiated
medicines for devastating diseases, today announced that Bharatt
Chowrira, Ph.D., J.D., President and Chief of Business and
Strategy, and George Farmer, Ph.D., Chief Financial Officer, will
participate in a fireside chat at the Jefferies London Healthcare
Conference on Wednesday, November 17, 2021, at 7:20 AM EST. A
webcast of the presentation will be available at
https://investors.puretechhealth.com/events-presentations .
Additionally, the Company reported PureTech Level Cash and Cash
Equivalents of $387.3 million and Consolidated Cash and cash
equivalents of $441.0 million as of September 30, 2021.(3)
PureTech's Founded Entities are also well-capitalized, having
raised over $1.6 billion since July 2018, 96% of which came from
third-party investors.(4)
Non-IFRS Financial Measures
PureTech Level Cash and Cash Equivalents is an alternative
performance measure which is adjusted and constitutes a non-IFRS
measure. We believe that these non-IFRS performance measures, when
provided in combination with IFRS measures, will provide investors,
analysts and other stakeholders with helpful complementary
information to better understand our financial position from period
to period. The measures are also used by management for planning
and reporting purposes. The measures are not substitutable for IFRS
measures and should not be considered superior to measures
presented in accordance with IFRS.
PureTech Level Cash and Cash Equivalents is defined as cash and
cash equivalents held at PureTech Health plc and its wholly-owned
subsidiaries only. Please see below for a reconciliation to
Consolidated Cash and cash equivalents, which is the most directly
comparable measure calculated in accordance with IFRS.
As of September
(in thousands) 30, 2021
=================================================== =================
Consolidated Cash and cash equivalents $440,966
Less: Cash and cash equivalents held at non-wholly
owned subsidiaries ($53,648)
PureTech Level Cash and Cash Equivalents $ 387,318
=================================================== ==== ===========
1. PureTech Level Cash and Cash equivalents as of September 30,
2021 represent cash and cash equivalents held at PureTech Health
plc and its wholly-owned subsidiaries only. Please see the section
captioned "Non-IFRS Financial Measures" included in this release
for additional information.
2. Consolidated Cash and cash equivalents as of September 30,
2021 represent cash and cash equivalents for PureTech Health plc in
accordance with International Financial Reporting Standards (IFRS).
Please see the section captioned "Non-IFRS Financial Measures"
included in this release for additional information.
3. These figures are unaudited and do not present all
information necessary for an understanding of the Company's
financial condition as of September 30, 2021.
4. Funding figure includes private equity financings, loans and
promissory notes, public offerings, or grant awards. Funding figure
excludes future milestone considerations received in conjunction
with partnerships and collaborations such as with, Boehringer
Ingelheim, Imbrium Therapeutics L.P., Shionogi & Co Ltd, or Eli
Lilly.
About 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.
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 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, our participation in upcoming events and
presentations. 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, 2020 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.
Contact:
Investors EU media
Allison Mead Talbot Ben Atwell, Rob Winder
+1 617 651 3156 +44 (0) 20 3727 1000
amt@puretechhealth.com ben.atwell@FTIconsulting.com
###
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