PureTech Health Entity Acquired for $14 Billion

Puretech Health Plc (PRTC) has released an update.

Bristol Myers Squibb has completed the acquisition of Karuna Therapeutics, a PureTech Health founded entity, for $14 billion, focusing on the schizophrenia treatment KarXT. PureTech is set to receive approximately $293 million from its equity in Karuna, alongside potential milestones and royalties from KarXT’s future successes. The deal marks a significant advancement for PureTech and promises to reshape treatment options for schizophrenia patients.

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