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PureTech Health closes $100M stock offering

PureTech Health plc raised $100 million after closing its previously announced stock offering.

The Boston-based clinical-stage biopharmaceutical, which is listed on the London Stock Exchange, offered 45 million shares to existing and new investors at £1.60 each.

Jefferies International Ltd. acted as sponsor, corporate broker and, along with Peel Hunt LLP, as joint book runner of the offering.

PureTech intends to use the net proceeds, together with its existing cash balances, to fund the advancement of its growth-stage affiliates focused on the brain-immune-gut axis as well as its internally funded immune focused programs.

A portion of the proceeds is also allocated for the development of new product candidates and for PureTech's corporate activities until 2021.