PureTech Health PLC acquired the remaining 10% stake in Ariya Therapeutics Inc. and renamed the unit PureTech LYT Inc.
The PureTech LYT unit holds PureTech's four technology platforms, which include immuno-oncology, synthetic lymphatic chemistry, milk exosomes and meningeal lymphatics. The remaining 10% stake was previously held by the co-inventors of these four technology platforms and associated universities and advisers.
As part of the acquisition, the Boston-based, London-listed company will issue 2,126,338 new ordinary shares and will grant options to the co-inventors to purchase 2,147,295 ordinary shares under the PureTech health performance share plan. The shares will be subject to lock-up agreements and will not be tradable until Oct. 1, 2021.
