Puretech’s first results post-float show medical firm in good health

HEALTHCARE research company Puretech Health yesterday released its maiden half-year results, reporting details of the expansion that has followed the firm’s flotation in January.

Puretech’s arrival on the market generated $196m (£125m) for the company, bringing its gross proceeds to around $250m. The company reported an operating loss of $11.6m. It currently has holdings in twelve medical technology ventures ranging from weight-loss capsules that expand inside the body, to hair-loss research.

During the first six months of the year, the company appointed two new board members, Chris Viehbacher, former chief executive of Sanofi, and Marjorie Scardino, former chief executive of Pearson.

Puretech chief executive Daphne Zohar said: “The first half-year of 2015 was a transformational period: we raised approximately $250m, made significant appointments to the board of directors and enhanced the position of our portfolio of operating companies.”

She added: “We are extremely excited about the future prospects for the company.”

Shares in Puretech closed trading yesterday at 145p, a rise of 3.8 per cent.