REG - PureTech Health PLC - PRTC Adds Industry Leader to Board of Directors

Puretech HealthAnnouncement

22/08/2024 07:01

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RNS Number : 3141B  PureTech Health PLC  22 August 2024

22 August 2024

PureTech Health plc

 

PureTech Appoints Michele Holcomb, PhD, to Board of Directors

 

Strategic healthcare leader brings more than 30 years of global experience to
PureTech's Board following notable positions with Cardinal Health, Teva
Pharmaceuticals and McKinsey & Company

 

PureTech Health plc (https://puretechhealth.com/) (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 that Michele Holcomb, PhD, will join its board of directors as an
independent non-executive director. Dr. Holcomb's appointment will take effect
as of September 23, 2024. She brings more than 30 years of expertise leading
global healthcare companies through strategic inflection points and preparing
innovative programs and portfolios for growth.

 

"As PureTech enters its next phase of growth focused on innovating and
progressing major advances for patients, Dr. Holcomb brings a wealth of
experience to our strategy that's built among highly visible healthcare
organizations," said Bharatt Chowrira, PhD, JD, Chief Executive Officer of
PureTech. "She has a proven track record of leading transformational growth
initiatives and driving organizational progress that will complement our
board's exceptional leadership, and we will greatly benefit from Dr. Holcomb's
broad biopharma experience as we deliver on our commitment to bring highly
innovative and differentiated new medicines to patients and build value for
all of our shareholders."

 

"PureTech pioneered the hub-and-spoke business model, and its approach
successfully combines commercial, scientific and medical expertise towards a
highly focused development strategy for each of the therapies in its
portfolio," commented Dr. Holcomb. "I am excited and honored to work with my
fellow board members and the PureTech management team to guide the Company
through the next stage of evolution."

 

Dr. Holcomb is a strategic leader with more than 30 years of healthcare
experience across biotech, pharmaceuticals and healthcare services. She has
served on both public and private boards, and has been a scientist, consultant
and executive, driving change through innovation and optimization at key
interfaces. In her previous role as EVP, Chief Strategy and Business
Development Officer at Cardinal Health, Dr. Holcomb leveraged an enterprise
perspective and knowledge of the evolving healthcare landscape to work with
the CEO, CFO, and leaders across the Pharmaceutical and Medical segments to
define strategies, optimize the portfolio, and identify growth and innovation
opportunities. Her team also led the execution and integration of investments,
acquisitions, partnerships and divestitures to support Cardinal Health's
strategy, as well as drove the enterprise approach to innovation.

 

Prior to Cardinal Health, Dr. Holcomb was the Chief Operating Officer of
Global R&D and SVP of Strategy, Portfolio, Search and Partnerships at Teva
Pharmaceuticals. She also spent 15 years at McKinsey & Company and was a
Partner of the Global Pharmaceutical Practice. Dr. Holcomb is a member of the
board of directors and chair of the Nominating and ESG (NESG) committee of
Kimball Electronics Inc (Nasdaq: KE). She also serves on the board of the
Abigail Wexner Research Institute at Nationwide Children's Hospital in
Columbus, the BalletMet of Columbus, where she chairs the long-range planning
committee and the Liberty Science Center in New Jersey. Dr. Holcomb is a
member of the editorial advisory board of Pharmaceutical Executive and has
lectured on healthcare strategy at Kellogg (Northwestern), Columbia and Fuqua
(Duke) business schools. Dr. Holcomb received a BS in chemistry from Stanford
University and a PhD in chemistry from the University of California, Berkeley,
and previously worked as an R&D chemist at Ciba-Geigy and Syntex
Pharmaceuticals.

 

"On behalf of the entire PureTech Board of Directors, I am honored to welcome
Dr. Holcomb to our organization," said Raju Kucherlapati, PhD, Chair of the
PureTech Board of Directors. "Dr. Holcomb's extensive background in biopharma,
coupled with her innovative mindset and unwavering dedication to excellence,
positions her as a pivotal addition to our board. Her unique insights and
strategic vision will be instrumental as we work to advance our company's
mission, and I am confident that her contributions will drive significant
value not only for patients but also for our shareholders."

 

On joining PureTech's Board of Directors, Dr. Holcomb will become a member of
the Audit Committee and Dr. Kucherlapati will step down from the Audit
Committee.

 

Dr. Holcomb is independent for the purposes of the UK Corporate Governance
Code, and PureTech confirms that there is no further information required to
be disclosed pursuant to UK Listing Rule 6.4.8.

 

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to giving life
to new classes of medicine to change the lives of patients with devastating
diseases. The Company has created a broad and deep pipeline through its
experienced research and development team and its extensive network of
scientists, clinicians and industry leaders that is being advanced both
internally and through its Founded Entities. PureTech's R&D engine has
resulted in the development of 29 therapeutics and therapeutic candidates,
including two that have received both U.S. FDA clearance and European
marketing authorization and a third (KarXT) that has been filed for FDA
approval. A number of these programs are being advanced by PureTech or its
Founded Entities in various indications and stages of clinical development,
including registration enabling studies. All of the underlying programs and
platforms that resulted in this pipeline of therapeutic candidates were
initially identified or discovered and then advanced by the PureTech team
through key validation points.

 

For more information, visit www.puretechhealth.com
(http://www.puretechhealth.com) or connect with us on X (formerly Twitter)
@puretechh.

 

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking statements,
including without limitation those related to PureTech's development plans and
our future prospects, developments and strategies. The forward-looking
statements are based on current expectations and are subject to known and
unknown risks, uncertainties and other important factors that could cause
actual results, performance and achievements to differ materially from current
expectations, including, but not limited to, those risks, uncertainties and
other important factors described under the caption "Risk Factors" in our
Annual Report on Form 20-F for the year ended December 31, 2023, filed with
the SEC and in our other regulatory filings. These forward-looking statements
are based on assumptions regarding the present and future business strategies
of the Company and the environment in which it will operate in the future.
Each forward-looking statement speaks only as at the date of this press
release. Except as required by law and regulatory requirements, we disclaim
any obligation to update or revise these forward-looking statements, whether
as a result of new information, future events or otherwise.

 

Contact:

PureTech

Public Relations

publicrelations@puretechhealth.com (mailto:publicrelations@puretechhealth.com)

Investor Relations

IR@puretechhealth.com (mailto:IR@puretechhealth.com)

 

UK/EU Media

Ben Atwell, Rob Winder

+44 (0) 20 3727 1000

puretech@fticonsulting.com (mailto:puretech@fticonsulting.com)

 

US Media

Nichole Bobbyn

+1 774 278 8273

nichole@tenbridgecommunications.com
(mailto:nichole@tenbridgecommunications.com)

 

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