[Update: On June 19, Puretech successfully raised $171M – approximately €150M – during its IPO, setting its market cap at €509M]
Boston-based PureTech Health plans to raise €147M on the London stock market, following the path of Verseon, a San Diego-based bioinformatic company that raised €92M earlier this month. Is there a new American trend to earn cash in London?
PureTech is specialized in detecting early-stage technology from academia, and nurturing them into a portfolio of companies. PureTech claims to find these innovations by looking beyond traditional disciplines and approaching healthcare problems from different perspectives. The group currently involves 12 operating companies that are actively developing technologies in different stages.
PureTech strategy is also driven by its high-profile board including, amongst others, former Sanofi’s CEO, Chris Viehbacher and John LaMattina, former Head of Research at Pfizer. PureTech expects to make its initial public offering on the main market of the London Stock Exchange in June of this year to raise around €147M.
PureTech detains a high ownership in its operating companies –