THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/ 2014) AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/ 2014) AS IT FORMS

PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

PureTech Launches Seaport Therapeutics with $100 Million Oversubscribed Series A and Announces Management Transitions

Bharatt Chowrira, Ph.D., J.D., named Chief Executive Officer of PureTech;

PureTech Co-founder, Eric Elenko, Ph.D., promoted to President

PureTech Founding Chief Executive Officer, Daphne Zohar, to lead Seaport as Chief Executive Officer,

together with former Karuna Chief Executive Officer and Chair, Steven M. Paul, M.D., as Chairman

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ( PureTech or the Company ), a clinical-stage biotherapeutics company dedicated to

changing the lives of patients with devastating diseases, today announced key progress on its strategic initiatives to deliver innovative medicines to patients and unlock value for shareholders.

Seaport Therapeuticsi

Seaport Therapeutics ( Seaport ), the latest Founded Entity to be created by PureTech, today announced that it has raised $100 millionii in an oversubscribed Series A financing with participation from top tier biotech investors ARCH Venture Partners, Sofinnova Investments and Third Rock Ventures to support the development of a novel

clinical-stage pipeline of neuropsychiatric medicines created and initially developed internally at PureTech. Seaport will be led by Daphne Zohar along with Founder Steven M. Paul, M.D., who is the former Chief Executive officer of Karuna

Therapeutics ( Karuna ), another CNS-focused PureTech Founded Entity that was recently acquired by Bristol Myers Squibb for $14 billion. Seaport was established by PureTech to advance

certain neuropsychiatric programs and relevant GlyphTM intellectual property. Following the Series A financing, PureTech will hold equity ownership in Seaport of 61.5 percent on a diluted

Executing on PureTech s Hub-and-Spoke Strategy

Consistent with its model, PureTech has internally advanced Seaport s neuropsychiatric medicines programs to a key inflection point such that

the pipeline can now drive value for PureTech through an equity stake and license consideration. This enables PureTech to share the significant costs of later-stage development with outside investors and direct additional resources to its innovative

R&D engine for the creation and validation of new therapeutic candidates. This same approach yielded PureTech s Karuna, which resulted in approximately $1.1 billion in gross proceeds for PureTech to date after the Company directed

$18.5 million to Karuna s founding and internal development. Under its license agreement with Karuna, PureTech retains the right to receive milestone payments upon the achievement of certain regulatory approvals. PureTech is also owed

certain royalties on net sales and is eligible to receive up to $400 million in milestone payments under its agreement with Royalty Pharma.iii

PureTech s business model is designed to repeat and scale this type of outcome with rigorous financial

discipline. Proceeds are recycled into the support of new programs and returns to shareholders while maintaining at least three years of operating cash runway. The platform supporting Seaport s pipeline is one of several programs advanced

during a period in which PureTech largely fueled its internal development with funds generated from Founded Entity monetization events, and PureTech has not needed to raise capital from the public markets in six years.

Management Transitions

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.

Long-term PureTech senior executive, Bharatt Chowrira, Ph.D., J.D., has been named Chief Executive Officer of PureTech effective as of today and will

therefore continue to serve as a director 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.

A 30-year veteran of the biotech industry, Dr. Chowrira has been a member of the PureTech senior management team

since March 2017, serving as the Company s President and Chief Business, Finance and Operating Officer and as a member of the Board of Directors. Prior to joining PureTech, he held leadership roles including Chief Executive Officer, Chief

Operating Officer and General Counsel in multiple biotech companies, including Auspex Pharmaceuticals Inc., which was acquired by Teva Pharmaceuticals for $3.5 billion, and Sirna Therapeutics, which was acquired by Merck & Co. for

$1.1 billion, and was also a Vice President at Merck & Co.

Commenting on today s announcements, Dr. Chowrira said:

I am excited to step into the CEO role and to lead PureTech through this next phase of its evolution. We have demonstrated the evergreen success of our hub-and-spoke R&D model of venture creation, where we are able to recycle proceeds from our Founded Entities into both the funding of our current and future programs to

change patients lives and capital returns for shareholders. As we continue to derive value from our existing pipeline, we will focus on what we have always done best: innovating the next wave of highly differentiated medicines.

Our fundamentals are centered on careful de-risking and streamlined development internally, quickly de-prioritizing those programs that don t achieve our prespecified thresholds for advancement to move resources to those that are the most promising. We maintain 100 percent ownership of programs until a

key value inflection point is reached, and we then have the option to pursue outside financial or strategic partners to advance these programs or to continue development internally.

This approach has enabled our R&D engine to be both very productive, as demonstrated by the 28 therapeutics and therapeutic candidates it has

generated, and uniquely capital efficient reflected in the fact that we have not had to raise money from the public markets in more than six years and will have returned $150 million to shareholders, pending shareholder approval of our

proposed $100 million tender offer, which is expected to be launched after the publication of the Company s Full Year Results, subject to market conditions. This capital efficiency also allows us to be selective in determining the

best path forward for each of our programs, and as demonstrated today with the top tier syndicate of investors now supporting Seaport our discerning strategy has created tremendous value internally that has not yet been appropriately

recognized by the market.

At Seaport Therapeutics, PureTech has brought together the proven team that helped build Karuna and

some of the investors that backed Karuna s initial funding rounds. I am confident that following our well charted strategy of starting with validated mechanisms and applying our proprietary Glyph technology to solve previous limitations will

enable Seaport to provide important new options for patients with depression, anxiety and other neuropsychiatric conditions.

thank Daphne for her leadership since founding PureTech and for shepherding the Company to this next phase. I am grateful that we will continue to benefit from Daphne s entrepreneurial spirit while she transitions to run one of our new Founded

Entities to drive significant value for PureTech. I look forward to continuing to work alongside our exceptional team, and I fervently believe that with this proven R&D model, supported by a robust balance sheet and strong management team,

PureTech has all the ingredients for tremendous, continued growth and success.

Reflecting on today s announcement, Daphne Zohar said:

I am extremely proud of what the PureTech team has accomplished and the pipeline of groundbreaking medicines which we have created that can have an

impact on the lives of millions of people. PureTech has now reached both financial independence and the important inflection point of returning capital. The team is positioned to excel and is infused with the spirit of creativity that has been with

us since the beginning. I will continue to work on behalf of PureTech shareholders by advancing the exciting Seaport programs through a structure that can help unlock their value for PureTech.

PureTech is in a strong position with an innovative portfolio of new medicines, stellar team and robust balance sheet, and I am pleased to be passing

the baton to Bharatt who is a respected executive in the biotech industry and has been a key senior leader on our team over the last seven years. I have confidence that under his leadership, together with my

co-founder Eric Elenko, who is now taking on the expanded role of President, and other outstanding senior team and board members, PureTech will continue to thrive, grow, and innovate on behalf of patients and

shareholders. I look forward to supporting PureTech as a senior advisor, board observer and shareholder as it continues to deliver on its mission of Giving Life to Science to change patients lives.

Interim Chair of the PureTech Board of Directors, Raju Kucherlapati, Ph.D., said:

On behalf of the Board, I would like to thank Daphne for her vision, leadership and dedication in founding and building PureTech. Daphne pioneered the hub-and-spoke model to create cutting-edge medicines, assembled a leading team and positioned PureTech for an exciting future and continued growth. I am pleased we will have

her ongoing participation. We are fortunate to have someone with Bharatt s experience and deep knowledge of our business to step into the role of Chief Executive Officer. He is the ideal person to successfully lead PureTech through this next

The full text of the announcement from Seaport is as follows:

Seaport Therapeutics Launches with $100 Million Oversubscribed Series A Financing Round to

Advance Novel Neuropsychiatric Medicines

Daphne Zohar, Founding CEO of PureTech Health and Co-Founder of Karuna Therapeutics, is Founder,

Chief Executive Officer and Member of the Board of Directors of Seaport

Steven M. Paul, M.D., former CEO and Chair of Karuna Therapeutics, President of Lilly Research

Laboratories, is Founder and Chair of the Board of Directors of Seaport

BOSTON Seaport Therapeutics, a clinical-stage biopharmaceutical company that is charting a proven path in neuropsychiatry, today

announced the closing of a $100 million oversubscribed Series A financing round. The round was co-led by ARCH Venture Partners and Sofinnova Investments along with Third Rock Ventures and Seaport founder

PureTech Health. Seaport also announced the appointment of Daphne Zohar as Founder, Chief Executive Officer and a member of the Board of Directors, and Steven M. Paul, M.D., as Founder and Chair of the Board of Directors.

Seaport is advancing a clinical-stage pipeline of novel neuropsychiatric medicines powered by its proprietary GlyphTM Technology Platform, which leverages the lymphatic system to create new medicines building on clinically validated mechanisms. The financing will support the rapid advancement of Seaport s

clinical-stage pipeline of first and best-in-class medicines as well as further development of the Glyph platform, which has demonstrated clinical proof-of-concept.

The company is built on a proven development strategy and is

led by the team that created and advanced the groundbreaking drug candidate KarXT (xanomeline-trospium), which is now poised to be the first new class of medicine in over 50 years for patients living with schizophrenia. Daphne Zohar, the Chief

Executive Officer of Seaport, is the founder and former CEO of PureTech Health where she also co-founded Karuna Therapeutics. Under Ms. Zohar s leadership, PureTech s R&D engine led to 28

new medicines, including two that received U.S. FDA clearance and a third (KarXT) that has been filed for FDA approval.

Dr. Paul, Founder and Chair

of the Seaport Board of Directors, is the former CEO and Chair of the Board of Directors of Karuna Therapeutics, which was recently acquired by Bristol Myers Squibb. Dr. Paul is also the former President of Research and Development at Eli

Lilly, where he oversaw the development of CNS drugs such as Zyprexa and Cymbalta as well as xanomeline, where its anti-psychotic and

pre-cognitive properties were initially demonstrated.

Major depression and anxiety disorders are among the

most common, disabling and potentially fatal of all medical conditions. Current standard-of-care treatments provide inadequate relief for far too many patients.

Seaport s pipeline of investigational antidepressants and anxiolytics are well positioned to more effectively treat these disorders and to help millions of people and their families, said Steven M. Paul M.D. Given the historically

low success rates within neuropsychiatric drug development, precisely solving the previous limitations of clinically validated mechanisms improves the probability of success and enables us to significantly accelerate development.

We are dedicated to bringing first and best-in-class medicines to those

that are suffering from depression, anxiety and other neuropsychiatric disorders, said Daphne Zohar, Founder and CEO of Seaport Therapeutics. I m excited to deliver on this mission along with a stellar team of senior leaders and

All of the programs in Seaport s pipeline are based on the Glyph platform, which is designed to enable and enhance oral bioavailability, avoid first-pass metabolism and reduce hepatotoxicity and other side effects to advance active drugs that were previously held

back by those limitations. Seaport s most advanced therapeutic candidate is SPT-300,iv which is an oral prodrug of allopregnanolone, an endogenous

neurosteroid, in development for the treatment of anxious depression. Allopregnanolone has demonstrated therapeutic benefit in a range of neuropsychiatric conditions, but it is only approved as an intravenous infusion, which has limited the scope of

its clinical use. Using the Glyph platform, SPT-300 retains the activity and potency of endogenous allopregnanolone in an oral form and has the potential to capture the breadth of the natural biological

response. In a Phase 2a clinical trial, SPT-300 demonstrated proof-of-concept in a validated clinical model of anxiety in healthy volunteers.

Seaport s pipeline also includes SPT-320,v a novel prodrug

of agomelatine being advanced for the treatment of Generalized Anxiety Disorder, which uses the Glyph platform to bypass first-pass metabolism by the liver and thus has the potential to lower its effective dose, reduce liver exposure and eliminate

the need for liver function monitoring that has held back agomelatine. SPT-348, a prodrug of a non-hallucinogenic neuroplastogen in development for the treatment of mood

and other neuropsychiatric disorders, leverages Glyph to create a potential first-in-class treatment with improved pharmacokinetics and tolerability compared to

conventional psychedelics. Beyond these programs, Seaport has multiple discovery and preclinical programs underway.

The additional members joining the

Seaport Board of Directors are Robert Nelsen (Managing Partner and Co-founder of ARCH Venture Partners), James Healy, M.D., Ph.D. (Managing Partner of Sofinnova Investments), Eric Elenko, Ph.D. (Co-founder and President of PureTech and Co-inventor of KarXT), and Bharatt Chowrira Ph.D., (newly appointed Chief Executive Officer of PureTech). Courtney Wallace (Venture

Partner at Third Rock Ventures) is joining as Board Observer.

I m thrilled to be partnering again with this outstanding team, led by Daphne