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PureTech Health PLC on Thursday said its founded entity Celea Therapeutics Inc has completed a $180 million financing, which will enable the early launch of a phase 3 drug trial. The Boston, Massachusetts-based biotech and pharmaceutical company said Celea’s financing, and associated asset transfer from PureTech, saw participation from a syndicate of ‘top-tier healthcare investors’ including PureTech itself, Leaps by Bayer and RA Capital Management. Other investors included ‘a large, US-based healthcare-focused fund and a leading sovereign wealth fund’. PureTech said it retains a 35.4% ownership stake in Celea, and is entitled to non-dilutive royalties, milestone payments, and sublicense income. The investors initially invested approximately $75 million in Celea for ’Series Seed Preferred’ stock priced at $1.93 per share. This was the first phase of the larger, $180 million ’Series Seed’ strategic investment, of which PureTech said it contributed $30 million. Additionally, PureTech said it has reserved $70 million from existing cash resources to potentially support Celea in the future. PureTech said the transaction establishes Celea as an independent company and the proceeds will support the planned early initiation, in the third quarter, of its phase 3 SURPASS-IPF trial of deupirfenidone, also known as LYT-100. Deupirfenidone is an investigational antifibrotic which PureTech said could become a new standard of care for people with idiopathic pulmonary fibrosis. ‘The completion of Celea’s $180 million financing marks a transformative milestone for both PureTech and Celea,’ commented PureTech Chief Executive Officer Rob Lyne. ‘The participation from a distinguished syndicate of leading healthcare investors provides powerful third-party validation of the deupirfenidone programme and the significant progress achieved to date, underscoring the meaningful commercial opportunity we collectively believe it represents.’ He continued: ‘For PureTech, the transaction delivers on the strategy we outlined in 2025. ‘By establishing a path for the continued development of deupirfenidone with third-party capital, the transaction enables PureTech’s transition to a lean operating model while maintaining meaningful ownership in Celea and significant long-term economic upside.’ Shares in PureTech had opened up 4.7%, but were down 5.5% at 124.80 pence on Thursday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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