PureTech Health (PRTC) UBS Global Healthcare Conference summary

Business model and R&D approach

• Employs a hub-and-spoke R&D model, launching programs as wholly owned or spun-out entities.

• Retains 100% equity at inception, with eligibility for milestones and royalties.

• Focuses on high-need diseases, leveraging de-risked small molecules or biologics.

• Early rigorous de-risking experiments determine which programs advance.

• Track record includes 80% clinical trial success and three drug approvals in 15 years.

Key pipeline programs and milestones

• KarXT (COBENFY) for schizophrenia achieved landmark approval, generating over $1.1B in returns and future milestone potential.

• LYT-100, a deuterated pirfenidone, is in phase IIb for IPF, aiming for improved tolerability and efficacy; top-line data expected by year-end.

• LYT-200, an anti-galectin-9 antibody, is in phase Ib for AML and head and neck cancer, with data updates expected in December.

• Seaport Therapeutics, based on the Glyph platform, raised $325M and targets CNS disorders with three clinical programs.

Clinical and commercial strategy

• LYT-100 phase IIb compares two doses to placebo and pirfenidone, focusing on efficacy and safety; aims to become frontline IPF therapy.

• LYT-200 explores both single-agent and combination regimens in hard-to-treat cancers.

• Seaport’s Glyph platform enables oral delivery of previously limited molecules, with SPT-300 targeting MDD and SPT-320 leveraging agomelatine’s profile.

• Plans to scale up to two new programs per year, maintaining capital efficiency and self-funding from returns.