TIDMPRTC
PureTech Health PLC
11 July 2022
11 July 2022
PureTech Health plc
PureTech Founded Entity Akili Announces Public Company Board of
Director Nominees
New and recent director nominees include industry trailblazers
BJ Jones of Biohaven Pharmaceuticals; Christine Lemke of Evidation
Health; Ken Ehlert, formerly of UnitedHealth Group; and Chamath
Palihapitiya of Social Capital and SCS
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the
"Company"), a clinical-stage biotherapeutics company noted that its
Founded Entity, Akili Interactive Labs, Inc. ("Akili"), a leading
digital medicine company pioneering the development of cognitive
treatments through game-changing technologies, today announced the
nominees for its future board of directors, effective upon the
closing of Akili's business combination with Social Capital
Suvretta Holdings Corp. I ("SCS") (Nasdaq: DNAA), subject to
customary closing conditions. Shares of the new public company's
common stock are expected to trade on Nasdaq under the symbol
"AKLI."
Akili's public company board of directors is expected to consist
of seven directors, with several new and recent additions,
including William (BJ) Jones, Chief Commercial Officer of Biohaven
Pharmaceuticals; Christine Lemke, Co-Chief Executive Officer of
Evidation Health; Ken Ehlert, former Chief Scientific Officer at
UnitedHealth Group; and Chamath Palihapitiya, founder and CEO of
Social Capital and Chairman and Managing Partner of SCS. Nominees
also include existing Akili directors Bharatt Chowrira, Ph.D.,
J.D., President and Chief Business, Legal & Operating Officer
of PureTech; Adam Gazzaley, M.D., Ph.D. and Eddie Martucci, Ph.D.
These director nominees bring industry leadership and deep
expertise in access and reimbursement, innovative go-to-market
approaches and groundbreaking research that will guide Akili as the
company enters its next phase of growth to commercialize digital
therapeutics at scale.
The full text of the announcement from Akili is as follows:
Akili Announces Public Company Board of Director Nominees
New and recent director nominees include industry trailblazers
BJ Jones, Christine Lemke, Ken Ehlert and Chamath Palihapitiya
BOSTON, Mass. - July 11, 2022 - Akili Interactive ("Akili"), a
leading digital medicine company pioneering the development of
cognitive treatments through game-changing technologies, today
announced the nominees for its future board of directors, effective
upon the closing of Akili's business combination with Social
Capital Suvretta Holdings Corp. I ("SCS") (Nasdaq: DNAA), subject
to customary closing conditions. Shares of the new public company's
common stock are expected to trade on Nasdaq under the symbol
"AKLI."
Akili's public company board of directors is expected to consist
of seven directors, with several new and recent additions,
including William (BJ) Jones, Chief Commercial Officer of Biohaven
Pharmaceuticals; Christine Lemke, Co-Chief Executive Officer of
Evidation Health; Ken Ehlert, former Chief Scientific Officer at
UnitedHealth Group; and Chamath Palihapitiya, founder and CEO of
Social Capital and Chairman and Managing Partner of SCS. Nominees
also include existing Akili directors Bharatt Chowrira, Ph.D.,
J.D., Adam Gazzaley, M.D., Ph.D. and Eddie Martucci, Ph.D. These
director nominees bring industry leadership and deep expertise in
access and reimbursement, innovative go-to-market approaches and
groundbreaking research that will guide Akili as the company enters
its next phase of growth to commercialize digital therapeutics at
scale.
Chamath Palihapitiya, incoming chair of Akili's board of
directors, said: "Akili is creating a new class of medicine that
has the potential to fundamentally change how we think about
cognitive health. As we forge this new path, it's important to have
a broad range of expertise, from pioneering leading-edge science to
navigating our healthcare system to establishing new standards of
patient care. The board and I look forward to supporting Eddie and
his team as they bring their first product to market, and hopefully
many more breakthrough therapeutics in the coming years."
Eddie Martucci, co-founder and Chief Executive Officer of Akili,
added: "We look forward to becoming a publicly-traded company
through our merger with SCS and we are proud to nominate this
impressive slate of life sciences and technology leaders to
constitute Akili's new public board and help guide our corporate
and clinical strategy."
Board Member Biographies
Chamath Palihapitiya (chair-elect) founded Social Capital in
2011 and has been its Managing Partner since its inception. Mr.
Palihapitiya also serves as the Chief Executive Officer and the
Chairman of the board of directors of DNAB, DNAC and DNAD. In
addition, Mr. Palihapitiya currently serves as the Chief Executive
Officer and the Chairman of the board of directors of each of
Social Capital Hedosophia Holdings Corp. IV and Social Capital
Hedosophia Holdings Corp. VI. Mr. Palihapitiya previously served as
the Chief Executive Officer and the Chairman of the board of
directors of Social Capital Hedosophia Holdings Corp. from May 2017
until the consummation of its business combination with Virgin
Galactic in October 2019, and served as the Chairman of the board
of directors of Virgin Galactic until February 2022. Mr.
Palihapitiya also previously served as the Chief Executive Officer
and the Chairman of the board of directors of Social Capital
Hedosophia Holdings Corp. II until the consummation of its business
combination with Opendoor Labs Inc. in December 2020 and as the
Chief Executive Officer and the Chairman of the board of directors
of Social Capital Hedosophia Holdings Corp. III until the
consummation of its business combination with Clover Health
Investments, Corp. in January 2021 and as the Chief Executive
Officer and Chairman of the board of directors of Social Capital
Hedosophia Holdings Corp. V until the consummation of its business
combination with Social Finance, Inc. in May 2021. Mr. Palihapitiya
also served as a director of Slack Technologies Inc. from April
2014 until October 2019. Prior to founding Social Capital in 2011,
Mr. Palihapitiya served as Vice President of User Growth at
Facebook, and is recognized as having been a major force in its
launch and growth. Mr. Palihapitiya was responsible for overseeing
Monetization Products and Facebook Platform. Prior to working for
Facebook, Mr. Palihapitiya was a principal at the Mayfield Fund,
one of the United States' oldest venture firms, before which he
headed the instant messaging division at AOL. Mr. Palihapitiya
graduated from the University of Waterloo, Canada with a degree in
electrical engineering.
William ("BJ") Jones, Jr. has served as Chief Commercial Officer
of Biohaven Pharmaceuticals Holding Company Ltd., a publicly traded
biopharmaceutical company, where he has been responsible for
building the company's commercial capability and launching their
first FDA-approved product (Nurtec ODT), since April 2019. Prior to
Biohaven, from January 2016 to March 2019, Mr. Jones served as Vice
President, Head of Sales and Commercial Operations for the general
medicine business unit of Takeda Pharmaceutical Company Limited, a
publicly traded pharmaceutical company. Mr. Jones holds a B.S. in
human factors engineering from the United States Air Force Academy,
an M.S. in industrial engineering from Texas A&M University and
an MBA from the Stanford University Graduate School of
Business.
Christine Lemke has served as a member of Akili's board of
directors since September 2021. Since March 2012, Ms. Lemke has
been employed by Evidation Health, Inc., a real-world health
measurement and engagement platform, where she currently serves as
Co-Chief Executive Officer and Director. Since February 2016, she
has also served as Co-Founder and General Partner of Ensemble Labs,
GP, an investor in early stage health technology companies. Prior
to Evidation Health and Ensemble Labs, Ms. Lemke was co-founder and
Chief Operating Officer of Sense Networks, Inc., developers of the
first machine learning platform for mobile phone activity data. Ms.
Lemke holds a B.A. in business from the University of Washington
and an MBA from HEC Paris.
Kenneth Ehlert has served as a member of Akili's board of
directors since December 2021. Previously, he held senior
leadership positions at UnitedHealth Group, a publicly traded
managed healthcare and insurance company, including most recently
as Chief Scientific Officer from December 2017 to July 2021. From
January 2009 until December 2017, Mr. Ehlert served as Chief
Executive Officer of Savvysherpa Inc., a research and development
firm. Mr. Ehlert holds a B.A. in economics and mathematics from
Brigham Young University and an M.S. in applied economics from the
University of Minnesota.
Bharatt Chowrira, Ph.D., J.D., has served as a member of Akili's
board of directors since June 2021 and previously served as a
member of Akili's board of directors from November 2017 until
September 2019. Since February 2017, Dr. Chowrira has served as
President and as a member of the board of directors of PureTech
Health plc. Prior to joining PureTech Health, Dr. Chowrira served
as President of Synlogic, Inc., a biopharmaceutical company focused
on developing synthetic microbiome-based therapeutics. Dr. Chowrira
also previously served as Chief Operating Officer of Auspex
Pharmaceuticals Inc., a biotechnology company, and as President and
Chief Executive Officer of Addex Therapeutics Ltd., a biotechnology
company. Prior to that, Dr. Chowrira held various leadership roles
at Nektar Therapeutics, Merck & Co., Sirna Therapeutics and
Ribozyme Pharmaceuticals. Since September 2018, Dr. Chowrira has
also served as a member of the board of directors of Vedanta
Biosciences, Inc., a clinical stage company. He was previously on
the boards of Vor Biopharma, Inc., a publicly-traded cell and
genome engineering company, between August 2018 and June 2020, and
Karuna Therapeutics, Inc., a publicly-traded biopharmaceutical
company, from August 2017 to
December 2019. Dr. Chowrira received a J.D. from the University
of Denver's Sturm College of Law, a Ph.D. in molecular biology from
the University of Vermont College of Medicine, an M.S. in molecular
biology from Illinois State University and a B.S. in microbiology
from the UAS, Bangalore, India.
Adam Gazzaley, M.D., Ph.D., one of Akili's co-founders, has
served as a member of Akili's board of directors since November
2014 and as Chief Science Advisor since January 2011. Dr. Gazzaley
is the David Dolby Distinguished Professor of Neurology, Physiology
and Psychiatry at the University of California, San Francisco
("UCSF"), and the Founder & Executive Director of Neuroscape at
UCSF, where he has been employed since July 2005. Additionally, Dr.
Gazzaley is co-founder and Chief Scientific Advisor of JAZZ Venture
Partners LLC, a venture capital firm focused on technologies that
improve human performance. Dr. Gazzaley has also been on the Board
of Trustees of the California Academy of Sciences since May 2019, a
Science Council Member there since August 2019, and a Science
Fellow there since May 2020. From January 2015 to January 2018, he
served as a Science Board member of the President's Council on
Fitness, Sports & Nutrition. Dr. Gazzaley holds a B.S. in
biochemistry from Binghamton University, and a Ph.D. in
neuroscience and an M.D. from Mount Sinai School of Medicine. He
completed his postdoctoral fellowship in neuroscience at Mount
Sinai School of Medicine and his residency in neurology at the
hospital of the University of Pennsylvania.
W. Edward ("Eddie") Martucci, Ph.D., one of Akili's co-founders,
has served as Akili's Chief Executive Officer and as a member of
Akili's board of directors since August 2015, including as Akili's
employee beginning in September 2017. From June 2009 to September
2017, Dr. Martucci was employed by PureTech Health PLC, a publicly
traded biotherapeutics company, where he co-founded Akili in 2011
and served as Akili's Chief Operating Officer from 2011 until
August 2015. Since February 2017, he has served on the board of the
Digital Therapeutics Alliance, a digital therapeutics industry
advocacy organization. Dr. Martucci holds a B.S. in biochemistry
from Providence College and a M.Phil. and Ph.D. in molecular
biophysics and biochemistry from Yale University.
About Akili
Akili is pioneering the development of cognitive treatments
through game-changing technologies. Our approach of leveraging
technologies designed to directly target the brain establishes a
new category of medicine - medicine that is validated through
clinical trials like a drug or medical device but experienced like
entertainment. Akili's platform is powered by proprietary
therapeutic engines designed to target cognitive impairment at its
source in the brain, informed by decades of research and validated
through rigorous clinical programs. Driven by Akili's belief that
effective medicine can also be fun and engaging, Akili's products
are delivered through captivating action video game experiences.
For more information, please visit www.akiliinteractive.com .
Additional Information and Where to Find It
In connection with the proposed business combination transaction
between SCS and Akili, SCS filed a registration statement on Form
S-4 (as amended, the "Registration Statement") with the SEC on
February 14, 2022, which includes a preliminary prospectus and
proxy statement of SCS, referred to as a proxy
statement/prospectus. The Registration Statement has not yet become
effective. When available, a final proxy statement/prospectus will
be sent to all SCS shareholders. SCS will also file other documents
regarding the proposed transaction with the SEC. SHAREHOLDERS OF
SCS ARE ADVISED TO READ THE REGISTRATION STATEMENT, THE PROXY
STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT
WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED
TRANSACTION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. Shareholders will be able to obtain free
copies of the Registration Statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by SCS (when available) through the
website maintained by the SEC at http://www.sec.gov.
The documents filed by SCS with the SEC also may be obtained
free of charge at SCS's website at
https://socialcapitalsuvrettaholdings.com/dnaa or upon written
request to 2850 W. Horizon Ridge Parkway, Suite 200, Henderson, NV
89052.
Participants in the Solicitation
SCS and Akili and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from SCS's shareholders in connection with the proposed
transaction. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
transaction between Akili and SCS are contained in the proxy
statement/prospectus. You may obtain free copies of these documents
as described in the preceding paragraph.
No Offer or Solicitation
This communication shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed transaction. This communication shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any states or jurisdictions in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act or an
exemption therefrom. This press release may be deemed to be
solicitation material in respect of the proposed transactions
contemplated by the proposed business combination between Akili and
SCS.
Forward-Looking Statements
This communication may contain certain forward-looking
statements within the meaning of the federal securities laws,
including with respect to the proposed transaction between Akili
and SCS. These forward-looking statements generally are identified
by the words "believe," "project," "expect," "anticipate,"
"estimate," "intend," "strategy," "future," "opportunity," "plan,"
"may," "should," "will," "would," "will be," "will continue," "will
likely result," and similar expressions and include statements
regarding the closing of the business combination, the composition
of the post-business combination board of directors, and Akili's
expectations for the development and commercialization of digital
therapeutics. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this communication, including but not limited to (i)
the risk that the proposed transaction may not be completed in a
timely manner or at all, which may adversely affect the price of
SCS's securities, (ii) the risk that the proposed transaction may
not be completed by SCS's business combination deadline and the
potential failure to obtain an extension of the business
combination deadline if sought by SCS, (iii) the failure to satisfy
the conditions to the consummation of the proposed transaction,
including the adoption of the Merger Agreement by the shareholders
of SCS and the satisfaction of the minimum cash condition, (iv) the
lack of a third party valuation in determining whether or not to
pursue the proposed transaction, (v) the inability to complete the
PIPE Investment, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement, (vii) the effect of the announcement or pendency of the
transaction on Akili's business relationships, operating results,
and business generally, (viii) risks that the proposed transaction
disrupts current plans and operations of Akili or diverts
management's attention from Akili's ongoing business operations and
potential difficulties in Akili employee retention as a result of
the announcement and consummation of the proposed transaction, (ix)
the outcome of any legal proceedings that may be instituted against
Akili or against SCS related to the Merger Agreement or the
proposed transaction, (x) the ability to maintain the listing of
SCS's securities on a national securities exchange, (xi) the price
of SCS's securities may be volatile due to a variety of factors,
including changes in the competitive and highly regulated
industries in which SCS plans to operate or Akili operates,
variations in operating performance across competitors, changes in
laws and regulations affecting SCS's or Akili's business, and
changes in the combined capital structure, (xii) the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed transaction, and identify and
realize additional opportunities, (xiii) the ability of Akili to
successfully commercialize EndeavorRx(R) and continue to advance
its clinical development pipeline, (xiv) the ability of Akili to
maintain relationships with customers and suppliers and retain its
management and key employees, (xv) the evolution of the markets in
which Akili competes, (xvi) the ability of Akili to defend its
intellectual property and satisfy regulatory requirements, (xvii)
the costs related to the proposed transaction, (xviii) the impact
of the COVID-19 pandemic on Akili's business, (xix) Akili's
expectations regarding its market opportunities and (xx) the risk
of downturns and a changing regulatory landscape in the highly
competitive industry in which Akili operates. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the "Risk Factors" section of SCS's registration on Form S-1
(File Nos. 333-256723 and 333-257543), SCS's annual report on Form
10-K for the year ended
December 31, 2021 filed with the SEC on March 24, 2022, SCS's
quarterly report on Form 10-Q for the period ended March 31, 2022
filed with the SEC on May 16, 2022, the Registration Statement on
Form S-4, including those under "Risk Factors" therein, and other
documents filed by SCS from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Akili and SCS assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Akili nor SCS gives any assurance that either
Akili or SCS, or the combined company, will achieve its
expectations.
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 27 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 Annual 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 unique insights in immunology and drug
development.
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 those statements that relate to Akili's
expectations regarding Akili's merger with Social Capital Suvretta
Holdings Corp. I (Nasdaq: DNAA) or matters related thereto,
including the identities of its potential Board of Directors
nominees, and Akili and PureTech's future prospects, development
plans, 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, 2021 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:
PureTech
Public Relations
publicrelations@puretechhealth.com
Investor Relations
IR@puretechhealth.com
EU Media
Ben Atwell, Rob Winder
+44 (0) 20 3727 1000
ben.atwell@FTIconsulting.com
U.S. Media
Nichole Sarkis
+1 774 278 8273
nichole@tenbridgecommunications.com
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