RCS - PureTech Health PLC - PRTC's Seaport Adds Biotech Finance Exec as CFO

Puretech HealthAnnouncement

05/11/2024 12:15

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RNS Number : 9167K  PureTech Health PLC  05 November 2024

5 November 2024

PureTech Health plc

 

PureTech Founded Entity Seaport Therapeutics Names Lauren White as Chief
Financial Officer

 

Former ImmunoGen CFO will join Seaport to steer capital financing strategy,
accounting, FP&A and investor relations

 

PureTech Health plc (https://puretechhealth.com/) (Nasdaq: PRTC, LSE: PRTC)
("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted
that its Founded Entity, Seaport Therapeutics (https://seaporttx.com/) ,
("Seaport") a biopharmaceutical company that is advancing novel
neuropsychiatric medicines with a proven strategy and team, today announced
the appointment of Lauren White as Chief Financial Officer. An accomplished
biotech financial executive, Ms. White most recently served as the Chief
Financial Officer at ImmunoGen (NASDAQ: IMGN) prior to its acquisition by
AbbVie (NYSE: ABBV) for $10.1 billion in 2024.

 

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

 

Seaport Therapeutics Names Lauren White as Chief Financial Officer

 

Former ImmunoGen CFO will join Seaport to steer capital financing strategy,
accounting, FP&A and investor relations

 

BOSTON, November 5, 2024 - Seaport Therapeutics (https://seaporttx.com/)
("Seaport or the "Company"), a clinical-stage biopharmaceutical company that
is advancing novel neuropsychiatric medicines with a proven strategy and team,
today announced the appointment of Lauren White as Chief Financial Officer. An
accomplished biotech financial executive, Ms. White most recently served as
the Chief Financial Officer at ImmunoGen (NASDAQ: IMGN) prior to its
acquisition by AbbVie (NYSE: ABBV) for $10.1 billion in 2024.

 

"I am so pleased to welcome Lauren as our CFO as we progress our
clinical-stage pipeline of therapeutics for the treatment of anxiety,
depression and other neuropsychiatric disorders," said Daphne Zohar, Founder
and Chief Executive Officer at Seaport. "Her strong leadership background in
biotech finance will be valuable as we chart an efficient path to delivering
these important new medicines to patients."

 

Ms. White brings over 22 years of corporate finance, accounting, strategic
partnering and investor relations expertise to Seaport. As the CFO at
ImmunoGen, Ms. White played a key role on the internal deal team, conducting
thorough analysis and due diligence during the M&A process with multiple
potential buyers, which ultimately led to the successful acquisition of the
company by AbbVie. Additionally, Ms. White helped to maximize the successful
commercial launch of ELAHERE®, a first-in-class antibody-drug conjugate (ADC)
approved for platinum-resistant ovarian cancer. Before joining ImmunoGen, Ms.
White served as Chief Financial Officer, Treasurer, and Principal Accounting
Officer at C4 Therapeutics (NASDAQ: CCCC), where she was responsible for
developing and leading the company's financial, capital, and procurement
strategies.

 

Prior to that, Ms. White held roles of increasing responsibility at Novartis
(NYSE: NVS), most recently serving as Global Head of Financial Planning and
Analysis for the Novartis Institutes for BioMedical Research (NIBR), where
she drove financial strategy and business planning. Before Novartis, Ms.
White held strategy and marketing roles with Boston Consulting Group and
General Electric. Ms. White received a BS from the Carroll School of
Management at Boston College and earned an MBA from Harvard Business
School.

 

"I'm excited to join the outstanding team at Seaport at this important stage
of development," said Ms. White. "I look forward to working with our team and
collaborators to leverage our recent financial progress and support Seaport's
mission to deliver meaningful medicines that positively impact the lives of
patients and their families."

 

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company advancing
the development of novel neuropsychiatric medicines in areas of high unmet
patient needs. The Company has a proven strategy of advancing clinically
validated mechanisms previously held back by limitations that are overcome
with its proprietary Glyph technology platform. All the therapeutic
candidates in its pipeline of first and best-in-class medicines are based on
the Glyph platform, which is uniquely designed to enable oral bioavailability,
bypass first-pass metabolism and reduce liver enzyme elevations or
hepatotoxicity and other side effects. Seaport is led by an experienced team
that invented and advanced important neuropsychiatric medicines and are guided
by an extensive network of renowned scientists, clinicians and key opinion
leaders. For more information, please visit www.seaporttx.com
(http://www.seaporttx.com/) .

 

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 three that have been approved by the U.S. Food and Drug
Administration. 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 Seaport's development plans for
its pipeline of therapeutics for the treatment of depression, anxiety and
other neuropsychiatric disorders, potential benefits to patients, and
Seaport's 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

Justin Chen

+1-609-578-7230

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

 

 

 

 

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