PureTech Share News (PRTC)

(Sharecast News) - PureTech Health announced the appointment of Robert Lyne as chief executive officer and a member of its board with immediate effect on Thursday.

Lyne, who had served as interim chief executive since July, said he was "honored to lead PureTech as CEO at such an important moment in its evolution."

"Over the past two years, I've seen first-hand the strength of our programs, the talent of our team, and the power of our differentiated model."

He said his focus would be on driving execution as the company advances therapies and delivers long-term shareholder value.

Lyne said PureTech's immediate priority was securing funding for its newly founded entity, Celea Therapeutics, following a successful end-of-phase two meeting with the US Food and Drug Administration.

"This process is progressing, and we expect to close within the first half of 2026, after which PureTech's operational run rate will reduce significantly," he said.

He added that the group was also pursuing financing in 2026 for Gallop Oncology as initial topline data matured and the programme moved into its next development stage.

Looking ahead, Lyne said the company intended to operate with a streamlined structure and "significantly reduced overhead," alongside a disciplined investment approach focused on advancing innovation to key inflection points with relatively modest spend.

He said that once Celea was fully financed, PureTech expected to assess "the most effective means of delivering value to shareholders, including potential capital returns," while prioritising capital preservation and flexibility in the interim.

Sharon Barber-Lui, interim chair of the board, said: "We are pleased to appoint Rob as PureTech's CEO.

"As Interim CEO, Rob has demonstrated strong leadership, strategic clarity, and a deep understanding of the business and key stakeholders."

She added that his appointment positioned the company to sharpen its strategic and operational focus and optimise shareholder returns, noting the board's support for a lean operating model and capital-efficient innovation.

Lyne joined PureTech in January 2024 as chief portfolio officer and previously served as chief executive of Arix Bioscience.

He was bringing more than a decade of senior leadership experience at London-listed life sciences companies, and had been involved in more than 80 venture capital financings across Europe and North America, as well as multiple portfolio exits and initial public offerings.

At 0823 GMT, shares in PureTech Health were up 1% at 121.8p.

Reporting by Josh White for Sharecast.com.