REG - PureTech Health PLC - PRTC’s Akili to Become Public & $162M Funding

Puretech HealthAnnouncement

26/01/2022 12:05

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RNS Number : 7232Z  PureTech Health PLC  26 January 2022

26 January 2022

 PureTech Health plc

 

PureTech Founded Entity Akili Interactive, a Leader in Digital Medicine, to
Become Publicly Traded Through Combination with Social Capital Suvretta
Holdings Corp. I

 

In addition to PureTech's advanced Wholly Owned Pipeline, Founded Entities are
an additional source of value and Akili is now set to join the growing list of
publicly-traded Founded Entities for PureTech, which also include Karuna
Therapeutics (Nasdaq: KRTX), Vor Biopharma (Nasdaq: VOR) and Gelesis (NYSE:
GLS)

 

Fully committed PIPE of $162 million led by $100 million from Social Capital
with remaining $62 million from new and existing investors including: Suvretta
Capital Management's Averill strategy, Apeiron Investment Group, Temasek,
co-founder PureTech Health, Polaris Partners, Evidity Health Capital, JAZZ
Venture Partners and Omidyar Technology Ventures

 

Transaction values the combined company at an equity value post-money of up to
approximately $1 billion and is expected to provide up to $412 million in
gross cash proceeds

 

Transaction will support commercial launch of EndeavorRx®, a
first-of-its-kind, FDA-cleared and CE-marked prescription digital therapeutic
for pediatric ADHD, as well as advance clinical development pipeline across
multiple neuropsychiatric diseases, including expanded ADHD populations,
multiple sclerosis, autism, and depression

 

PureTech Health plc (https://puretechhealth.com/) (Nasdaq: PRTC, LSE: PRTC)
("PureTech" or the "Company"), a clinical-stage biotherapeutics company
announces today that its Founded Entity, Akili Interactive ("Akili"), a
leading digital medicine company developing cognitive treatments through
game-changing technologies, has entered into a definitive agreement to become
publicly traded via a merger with Social Capital Suvretta Holdings Corp. I
("SCS") (Nasdaq: DNAA), a special purpose acquisition company. The transaction
is expected to close in mid-2022, after which Akili will be listed on the
Nasdaq stock market under the new ticker symbol "AKLI." As a public company
with world-class backing and strong financial flexibility, Akili will be
positioned to pioneer a new class of digital medicines for millions of people
living with cognitive impairment.

 

"Akili, as with all our Founded Entities, was co-invented and advanced through
initial milestones by the PureTech team, and we are proud of Akili's continued
path of success, most notably with the FDA clearance of EndeavorRx and now
with its potential listing on Nasdaq," said Bharatt Chowrira, Ph.D., J.D.,
President and Chief Business, Legal and Operating Officer of PureTech and
Akili Board Member. "With Akili on its way to becoming yet another
publicly-traded Founded Entity for PureTech, our unique model continues to
demonstrate the multiple ways in which we are generating value at PureTech,
including equity stakes in public and private Founded Entities, royalties and
milestone payments due to us from certain invented products, pharma
collaborations to advance non-core programs and - importantly -  our rapidly
progressing and advanced Wholly Owned Pipeline which we see as our major value
driver going forward."

 

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

 

Akili Interactive, a Leader in Digital Medicine, to Become Publicly Traded
Through Combination with Social Capital Suvretta Holdings Corp. I

 

●     Akili's leading digital therapeutic platform combines science and
technology to address cognitive impairments in patients, reimagining how
central nervous system medicines are designed, developed, and delivered

●     Transaction will support commercial launch of EndeavorRx®, a
first-of-its-kind, FDA-cleared and CE-marked prescription digital therapeutic
for pediatric ADHD, as well as advance clinical development pipeline across
multiple neuropsychiatric diseases, including expanded ADHD populations,
multiple sclerosis, autism, and depression

●     Transaction values the combined company at an equity value
post-money of up to approximately $1 billion and is expected to provide up to
$412 million in gross cash proceeds

●     Fully committed PIPE of $162 million led by $100 million from
Social Capital with remaining $62 million from new and existing investors
including: Suvretta Capital Management's Averill strategy, Apeiron Investment
Group, Temasek, co-founder PureTech Health, Polaris Partners, Evidity Health
Capital, JAZZ Venture Partners and Omidyar Technology Ventures

●     Chamath Palihapitiya expected to become Chair of Akili's Board of
Directors upon transaction close

 

BOSTON, Mass. and PALO ALTO, Calif. - January 26, 2022 - Akili Interactive
("Akili" or the "Company"), a leading digital medicine company developing
cognitive treatments through game-changing technologies, has entered into a
definitive agreement to become publicly traded via a merger with Social
Capital Suvretta Holdings Corp. I ("SCS") (Nasdaq: DNAA), a special purpose
acquisition company. The transaction is expected to close in mid-2022, after
which Akili will be listed on the Nasdaq stock market under the new ticker
symbol "AKLI." As a public company with world-class backing and strong
financial flexibility, Akili will be positioned to pioneer a new class of
digital medicines for millions of people living with cognitive impairment.

 

New Digital Approach to Cognitive Medicine

 

The Akili software platform was built on the belief that directly engaging
brain function is the next frontier of science and medicine. Cognitive
impairments - including poor concentration, memory loss, difficulties learning
new skills, and difficulties with decision making - are in aggregate among the
largest unmet medical needs, and are increasingly recognized as contributing
to or associated with dozens of chronic diseases and acute illnesses,
including attention-deficit/hyperactivity disorder (ADHD), major depressive
disorder (MDD), multiple sclerosis (MS), and autism spectrum disorder (ASD),
as well as postoperative cognitive dysfunction and COVID-19 "brain fog."

 

Despite the rapidly growing prevalence of these conditions, the acute
exacerbation of these issues by the pandemic's impact, and the chronic,
escalating cognitive overload from the proliferation of on-demand
attention-capturing technology, there has been limited innovation of novel
treatment options. Specifically, current treatment options are designed to
focus on symptoms and coping strategies instead of directly targeting
cognitive functioning. These therapeutic shortfalls are especially concerning
for younger populations who are potentially facing a lifetime of managing
these conditions.

 

Akili's First-of-Its-Kind, Clinically Validated Therapeutic

 

By harnessing advances in cognitive neuroscience and consumer technology,
Akili is changing the neuropsychiatric treatment paradigm. Akili's patented
and clinically validated technology platform represents a new category of
software-based medicine: advanced and proprietary digital therapeutics that
are designed to directly target neural physiology to better serve the needs of
patients and their families.

 

Akili's core therapeutic engine, the Selective Stimulus Management Engine
(SSME(TM)), is specifically designed to target and activate neural systems
involved in attentional control. This core platform has the potential to be
applied across a diverse set of indications within psychiatry and neurology.
Backed by robust clinical research, Akili's treatments are delivered to
patients through engaging interactive mobile games, personalized to each
individual and built to feel like high-end entertainment products.

 

The SSME(TM) technology has already demonstrated proof-of-concept in
controlled trials targeting attention and cognitive dysfunction in ADHD, ASD,
MS, and MDD. Built on the SSME(TM) technology, Akili developed EndeavorRx®,
the first-ever FDA-cleared prescription video game and the first-ever
FDA-cleared commercial product indicated to improve attention function in
children between the ages of 8 to 12 years with primarily inattentive or
combined-type ADHD (see full indication below).

 

Key Investment Highlights:

 

●     Patented and clinically validated technology platform. Developed
with the collaboration of cognitive neuroscientists and mobile game
developers, Akili's proprietary technology is designed to target key neural
systems underlying specific cognitive functions through adaptable,
personalized closed-loop algorithms. The technology is clinically validated,
using recognized endpoints, and delivered through smartphones or other mobile
devices.

 

●     First-and-only FDA-cleared video game-based digital therapeutic.
Anticipated to launch in the second half of 2022, EndeavorRx® is the first
and only prescription video game treatment with FDA clearance and a CE mark
(designating it has met European health, safety, performance, and
environmental requirements) in pediatric ADHD. EndeavorRx® has been validated
through multiple clinical trials, including large randomized, controlled
trials demonstrating improved patient outcomes.

 

●     Large and growing market opportunity. Tens of millions of people
worldwide live with cognitive health issues, and many are actively searching
for better solutions. With EndeavorRx®, Akili is initially targeting the
approximately $10 billion U.S. ADHD market. EndeavorRx® will first launch for
the FDA-cleared 8 to 12-year-old pediatric population. Akili is also seeking
to expand into other U.S. ADHD populations, including younger children (3 to 7
years old), teens, and adults, while simultaneously working with a partner to
gain approval as a treatment for pediatric ADHD in Japan.

 

●     Strong clinical rigor. Akili has completed 20 clinical trials
across 2,900 patients and nine disease populations. In addition, Akili's
clinical studies and data have been published in 16 leading peer-reviewed
journals.

 

●     Robust research and clinical pipeline. Akili has a strong
development pipeline, initially focused on treatments for cognitive
impairments across nine patient populations. In addition, Akili is progressing
early discovery for two new platform technologies to address additional
cognitive impairments and facilitate broader reach across disease spectrums.
Akili is poised to begin pivotal studies in multiple indications where
proof-of-concept has been achieved, including additional ADHD populations,
ASD, MS, and MDD.

 

Management Comments

 

Eddie Martucci, Chief Executive Officer of Akili, said: "This transaction
represents the next step in our journey to become the world's leading digital
medicine company directly targeting neurological function. Over the past 10
years, we have created a platform representing a new era of cognitive
medicine, driven by our fundamental focus on patients, advanced science and
proprietary technology, and the mission-driven hard work of our entire team.
We believe medicine now can be both effective and engaging. Social Capital
Suvretta shares our vision for the future, and we look forward to applying our
combined experience as we drive the commercialization of our platform and
advance our deep pipeline of prescription digital therapeutics to help people
living with cognitive impairments across the globe."

 

Chamath Palihapitiya, Founder and CEO of Social Capital and Chairman and CEO
of SCS, commented: "Akili is taking a new approach to cognitive science -
using software to target our underlying cognitive function and creating an
entirely new class of medicine as a byproduct. With its first-ever, clinically
validated digital therapeutic (EndeavorRx®), Akili has the unique opportunity
to change how we treat pediatric ADHD. They have also laid the groundwork to
treat a wide range of other cognitive issues affecting tens of millions of
people around the world."

 

Kishen Mehta, Portfolio Manager of the Averill strategy at Suvretta Capital
Management and President of SCS, said: "Akili has created a unique
disease-agnostic technology platform with an advanced pipeline of product
candidates across multiple indications where proof-of-concept has already been
achieved. The Company is leading the advancement of digital cognitive
therapies with an FDA-cleared product already on the market, and we believe
Akili has only just scratched the surface of this new and exciting field of
medicine. We look forward to working with Akili to accelerate the Company's
growth and allow it to continue developing treatment options for the hundreds
of millions of people living with cognitive impairments."

 

Transaction Overview

 

The transaction implies a post-money equity value of the combined company of
up to approximately $1 billion and is expected to deliver up to $412 million
in gross cash proceeds to the Company, including the contribution of up to
$250 million of cash held in SCS's trust account and $162 million from PIPE
investors at $10 per share. All references to available cash from the trust
account and retained transaction proceeds are subject to any redemptions by
the public shareholders of SCS and payment of transaction expenses.  Akili
plans to use the net proceeds to help fund the Company's go-to-market
strategy, to further advance its pipeline of prescription digital therapeutics
targeting a range of chronic and acute cognitive disorders, and for other
general corporate purposes.

 

Existing Akili shareholders will roll 100% of their equity into the combined
company and will be eligible to receive additional SCS shares pursuant to an
earnout based on the combined company's future stock performance.

 

Chamath Palihapitiya is expected to join Akili's board of directors as chair,
upon the close of the transaction.

 

The proposed business combination, which has been unanimously approved by the
boards of directors of both Akili and SCS, is expected to close in mid-2022,
subject to approval by SCS's and Akili's shareholders, regulatory approvals,
and other customary closing conditions.

 

Advisors

 

Morgan Stanley & Co. LLC ("Morgan Stanley") and Cowen and Company, LLC
("Cowen") are serving as financial advisors to Akili. Morgan Stanley, Credit
Suisse, and Cowen are serving as co-placement agents to SCS with respect to
the portion of the PIPE financing raised from non-insider qualified
institutional buyers and institutional accredited investors. Morgan Stanley,
Credit Suisse, and Cowen are not acting as agents or participating in any role
with respect to, and will not earn any fees from, the portion of the PIPE
financing raised from insiders and individual investors. Credit Suisse and
Cowen are serving as capital markets advisors to Akili. BofA Securities, Inc.
is acting as capital markets advisor to SCS.

 

Goodwin Procter LLP is serving as legal counsel to Akili. Wachtell, Lipton,
Rosen & Katz is serving as legal counsel to SCS. Skadden, Arps, Slate,
Meagher & Flom LLP is serving as legal advisor to the PIPE placement
agents.

 

Conference Call Information

 

A presentation made by the management teams each of Akili and SCS regarding
the transaction will be available at
https://event.on24.com/wcc/r/3621898/2B6B29D03ADCC3D4AD26E9082AE8ADA1
(https://event.on24.com/wcc/r/3621898/2B6B29D03ADCC3D4AD26E9082AE8ADA1) at
8:00 AM ET.

 

Additional information about the proposed transaction, including an investor
presentation, will be provided in a Current Report on Form 8-K to be filed by
SCS with the Securities and Exchange Commission and available at
(http://www.sec.gov/) www.sec.gov (http://www.sec.gov/) .

 

EndeavorRx® Indication and Overview

 

EndeavorRx® is the first-and-only FDA-cleared treatment delivered through a
video game experience. EndeavorRx® is indicated to improve attention function
as measured by computer-based testing in children ages 8 to 12 years old with
primarily inattentive or combined-type ADHD, who have a demonstrated attention
issue. Patients who engage with EndeavorRx® demonstrate improvements in a
digitally assessed measure Test of Variables of Attention (TOVA®) of
sustained and selective attention and may not display benefits in typical
behavioral symptoms, such as hyperactivity. EndeavorRx® should be considered
for use as part of a therapeutic program that may include clinician-directed
therapy, medication, and/or educational programs, which further address
symptoms of the disorder. EndeavorRx® is available by prescription only. It
is not intended to be used as a stand-alone therapeutic and is not a
substitution for a child's medication. The most common side effect observed in
children in EndeavorRx®'s clinical trial was a feeling of frustration, as the
game can be quite challenging at times. No serious adverse events were
associated with its use. EndeavorRx® is recommended to be used for
approximately 25 minutes a day, 5 days a week, over initially at least 4
consecutive weeks, or as recommended by your child's health care provider. To
learn more about EndeavorRx®, please visit EndeavorRx.com
(https://www.endeavorrx.com/) .

 

About Akili

 

Akili is pioneering the development of game-changing technologies to usher in
a new era of cognitive medicine. Focused on delivering cutting-edge digital
diagnostics, treatments and monitors for cognitive impairments across disease
and disorders, Akili is combining scientific and clinical rigor with the
ingenuity of the tech and entertainment industries and challenging the status
quo of medicine. Akili's treatments are designed to directly activate the
networks in the brain responsible for cognitive function and have been
rigorously tested in extensive clinical studies, including prospective
randomized, controlled trials. Driven by Akili's belief that effective
medicine can also be fun and engaging, Akili's products are delivered through
captivating action video game experiences. For more information, please visit
(http://www.akiliinteractive.com/) www.akiliinteractive.com
(http://www.akiliinteractive.com/) .

 

About Social Capital

 

At Social Capital, we make big bets on transformational ideas, technology, and
people. We strategically invest in smart, profit-minded opportunities and
forward-thinking social investments that have the potential to shape a better
future. We do this from a balance sheet of permanent capital to support
entrepreneurship at all stages. This allows us more flexibility to double down
on our convictions, without the limitations of traditional fund structures,
and gives founders the runway and resources necessary to succeed. We believe
in the outsized potential of for-profit businesses to drive impact in the
world. We aim to set a new standard for what capitalism can be. To learn more
about Social Capital, visit https://www.socialcapital.com/
(https://www.socialcapital.com/) .

 

About Social Capital Suvretta Holdings Corp I

 

Social Capital Suvretta Holdings Corp. I is led by Chamath Palihapitiya and
Kishen Mehta and is a blank check company formed for the purpose of effecting
a merger, amalgamation, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses.
The company is focused on businesses operating in the biotechnology industry
and within the neurology subsector. To learn more about Social Capital
Suvretta Holdings, visit https://www.socialcapitalsuvrettaholdings.com/
(https://www.socialcapitalsuvrettaholdings.com/) .

 

Additional Information and Where to Find It

 

In connection with the proposed transaction, SCS intends to file a
registration statement on Form S-4 (as amended, the "Registration Statement")
with the SEC, which will include a preliminary prospectus and proxy statement
of SCS, referred to as a proxy statement/prospectus.  Such documents are not
currently available.  When available, a final proxy statement/prospectus will
be sent to all SCS shareholders.  SCS will also file other documents
regarding the proposed transaction with the SEC. SHAREHOLDERS OF SCS ARE
ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, THE PROXY
STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE
FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION AS THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.  Shareholders will
be able to obtain free copies of the Registration Statement, the proxy
statement/prospectus and all other relevant documents filed or that will be
filed with the SEC by SCS (when available) through the website maintained by
the SEC at http://www.sec.gov (http://www.sec.gov) .

 

The documents filed by SCS with the SEC also may be obtained free of charge at
SCS's website at https://socialcapitalsuvrettaholdings.com/dnaa
(https://socialcapitalsuvrettaholdings.com/dnaa) or upon written request to
2850 W. Horizon Ridge Parkway, Suite 200, Henderson, NV 89052.

 

Participants in the Solicitation

 

SCS and Akili and their respective directors and executive officers may be
deemed to be participants in the solicitation of proxies from SCS's
shareholders in connection with the proposed transaction.  A list of the
names of such directors and executive officers and information regarding their
interests in the proposed transaction between Akili and SCS will be contained
in the proxy statement/prospectus when available.  You may obtain free copies
of these documents as described in the preceding paragraph.

 

No Offer or Solicitation

 

This communication shall not constitute a solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the proposed
transaction. This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offering of securities shall
be made except by means of a prospectus meeting the requirements of Section 10
of the Securities Act or an exemption therefrom. This press release may be
deemed to be solicitation material in respect of the proposed transactions
contemplated by the proposed business combination between Akili and SCS.

 

Forward-Looking Statements

 

This communication may contain certain forward-looking statements within the
meaning of the federal securities laws with respect to the proposed
transaction between Akili and SCS.  These forward-looking statements
generally are identified by the words "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future," "opportunity,"
"plan," "may," "should," "will," "would," "will be," "will continue," "will
likely result," and similar expressions.  Forward-looking statements are
predictions, projections and other statements about future events that are
based on current expectations and assumptions and, as a result, are subject to
risks and uncertainties.  Many factors could cause actual future events to
differ materially from the forward-looking statements in this communication,
including but not limited to:  (i) the risk that the proposed transaction may
not be completed in a timely manner or at all, which may adversely affect the
price of SCS's securities, (ii) the risk that the proposed transaction may not
be completed by SCS's business combination deadline and the potential failure
to obtain an extension of the business combination deadline if sought by SCS,
(iii) the failure to satisfy the conditions to the consummation of the
proposed transaction, including the adoption of the Merger Agreement by the
shareholders of SCS and the satisfaction of the minimum cash condition, (iv)
the lack of a third party valuation in determining whether or not to pursue
the proposed transaction, (v) the inability to complete the PIPE Investment,
(vi) the occurrence of any event, change or other circumstance that could give
rise to the termination of the Merger Agreement, (vii) the effect of the
announcement or pendency of the transaction on Akili's business relationships,
operating results, and business generally, (viii) risks that the proposed
transaction disrupts current plans and operations of Akili or diverts
management's attention from Akili's ongoing business operations and potential
difficulties in Akili employee retention as a result of the announcement and
consummation of the proposed transaction, (ix) the outcome of any legal
proceedings that may be instituted against Akili  or against SCS related to
the Merger Agreement or the proposed transaction, (x) the ability to maintain
the listing of SCS's securities on a national securities exchange, (xi) the
price of SCS's securities may be volatile due to a variety of factors,
including changes in the competitive and highly regulated industries in which
SCS plans to operate or Akili operates, variations in operating performance
across competitors, changes in laws and regulations affecting SCS's or Akili's
business, and changes in the combined capital structure, (xii) the ability to
implement business plans, forecasts, and other expectations after the
completion of the proposed transaction, and identify and realize additional
opportunities, (xiii) the ability of Akili to successfully commercialize
EndeavorRx® and continue to advance its clinical development pipeline, (xiv)
the ability to recognize the anticipated benefits of the proposed transaction,
which may be affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain relationships
with customers and suppliers and retain its management and key employees, (xv)
the evolution of the markets in which Akili competes, (xvi) the ability of
Akili to defend its intellectual property and satisfy regulatory requirements,
(xvii) the costs related to the proposed transaction, (xviii) the impact of
the COVID-19 pandemic on Akili's business, (xix) Akili's expectations
regarding its market opportunities and (xx) the risk of downturns and a
changing regulatory landscape in the highly competitive industry in which
Akili operates.  The foregoing list of factors is not exhaustive.  You
should carefully consider the foregoing factors and the other risks and
uncertainties described in the "Risk Factors" section of SCS's registration on
Form S-1 (File Nos. 333-256723 and 333-257543), SCS's quarterly report on Form
10-Q for the quarter ended September 30, 2021 filed with the SEC on November
15, 2021, the Registration Statement on Form S-4 when available, including
those under "Risk Factors" therein, and other documents filed by SCS from time
to time with the SEC.  These filings identify and address other important
risks and uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.  Readers
are cautioned not to put undue reliance on forward-looking statements, and
Akili and SCS assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information, future
events, or otherwise.  Neither Akili nor SCS gives any assurance that either
Akili or SCS, or the combined company, will achieve its expectations.

 

 

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to discovering,
developing and commercializing highly differentiated medicines for devastating
diseases, including inflammatory, fibrotic and immunological conditions,
intractable cancers, lymphatic and gastrointestinal diseases and neurological
and neuropsychological disorders, among others. The Company has created a
broad and deep pipeline through the expertise of its experienced research and
development team and its extensive network of scientists, clinicians and
industry leaders. This pipeline, which is being advanced both internally and
through PureTech's Founded Entities, is comprised of 25 therapeutics and
therapeutic candidates, including two that have received both U.S. FDA
clearance and European marketing authorization, as of the date of PureTech's
most recently filed Half Year Report and corresponding Form 6-K. 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 based on the
Company's unique insights into the biology of the brain, immune and gut, or
BIG, systems and the interface between those systems, referred to as the BIG
Axis.

 

For more information, visit www.puretechhealth.com or connect with us on
Twitter @puretechh.

 

Ownership Information

PureTech's percentage ownership of Akili as of December 31, 2021 was
approximately 22.3 percent on a diluted basis, prior to the transaction. This
calculation of PureTech's holding includes issued and outstanding shares as
well as options and warrants to purchase shares, but excludes unallocated
shares authorized to be issued pursuant to equity incentive plans. PureTech's
ownership of Akili will be updated following completion of the transaction.

 

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 statements that relate to expectations
regarding Akili's merger with Social Capital Suvretta Holdings Corp. I
(Nasdaq: DNAA) or matters related thereto, including expectations regarding
the completion of the transaction and potential timing for the same,
expectations regarding the use of proceeds from the merger transaction,
expectations with respect to the commercial launch of EndeavorRx®,
expectations with respect to Akili's future prospects, development plans, and
strategies, the competitive environment in which Akili operates, PureTech's
mechanisms for value generation, and PureTech's future prospects, value
drivers, development plans, 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, 2020 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.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.

 

 

 Contact:

 PureTech

 Public Relations

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

 Investor Relations

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

 EU Media

 Ben Atwell, Rob Winder

 +44 (0) 20 3727 1000

 ben.atwell@FTIconsulting.com (mailto:ben.atwell@FTIconsulting.com)

 U.S. Media

 Nichole Sarkis

 +1 774 278 8273

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

 

 

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