PureTech Health PLC Offer Talks Terminated (4131C)
October 11 2022 - 2:00AM
UK Regulatory
TIDMPRTC
RNS Number : 4131C
PureTech Health PLC
11 October 2022
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PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
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JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 ("MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR.
FOR IMMEDIATE RELEASE
11 October 2022
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the
"Company")
Statement regarding termination of discussions with Nektar
Therapeutics ("Nektar")
PureTech announces that it has mutually agreed with Nektar to
terminate discussions regarding a possible business
combination.
Discussions with Nektar were announced on 7 October 2022, as
required by Rule 2 of the UK City Code on Takeovers and Mergers
(the "Code"), in response to media speculation. These discussions
were early in nature and the required announcement created the
impression that discussions were more advanced than they were.
Given the early stage of the discussions and the potential for an
extended period of uncertainty, these discussions were
terminated.
This announcement has been made with the consent of Nektar.
Notwithstanding the termination of discussions, PureTech remains
in an "offer period" until the expiration of the period set out in
the announcement made on 7 October 2022 for Nektar either to
announce a firm intention to make an offer for the Company in
accordance with Rule 2.7 of the Code or to announce that it does
not intend to make an offer, in which case such announcement will
be treated as a statement to which Rule 2.8 of the Code
applies.
About PureTech Health
PureTech is a biotherapeutics company dedicated to changing the
treatment paradigm for devastating diseases. The Company is a
financially robust and successful business. It has a strong
clinical track record and Wholly Owned Pipeline as well as stakes
in, and royalties due from, programs being advanced by its Founded
Entities. The Board is confident in the exciting prospects for the
Company, which are built upon its well-funded balance sheet and
strong Wholly Owned Pipeline.
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 and a third that
will soon be filed for FDA approval, 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 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 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 those statements related to
discussions of a possible business combination between PureTech and
Nektar 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
Allison Mead Talbot, Head of Communications
IR@puretechhealth.com
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