PureTech Health plc announced key progress on its strategic initiatives to deliver innovative medicines to patients and unlock value for shareholders. Seaport Therapeutics was established by PureTech to advance certain neuropsychiatric programs and relevant Glyph intellectual property. Following the Series A financing, PureTech will hold equity ownership in Seaport of 61.5% on a diluted basis.

As part of the strategic advancement of Seaport, Daphne Zohar, PureTech?s founding Chief Executive Officer and a successful entrepreneur with a longstanding passion for developing neuropsychiatric medicines, will transition into the role of Seaport?s Chief Executive Officer. Ms. Zohar will formally step down from the board of directors of PureTech with immediate effect and has agreed to serve as a senior advisor and observer to the board of directors of PureTech. Eric Elenko, Ph.D., a PureTech co-founder and current Chief Innovation Officer, has been promoted to the role of President of PureTech.