PureTech Health PLC - Boston-based biotechnology - Sells 1.3 million shares in investee Karuna Therapeutics via a block trade conducted by Goldman Sachs for around USD100 million. This comes after PureTech in January had sold 2.1 million shares in Karuna, also via Goldman Sachs, for USD200 million. Following the sale, PureTech holds 3.4 million Karuna shares or a 13% stake.
PureTech has agreed not to sell any more Karuna shares for 45 days from now.
Separately, PureTech notes that founding entity Vor Biopharma has named John King as chief commercial officer. King was CCO of Ra Pharmaceuticals Inc, which was acquired by UCB SA of Belgium in April. Last month, Vor had appointed to its board David Lubner, the chief financial officer of Ra.
Current stock price: 273.50 pence
Year-to-date change: down 15%.
By Ife Taiwo; ifetaiwo@alliancenews.com
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PureTech (PRTC)