13th Apr 2026 10:49
(Alliance News) - PureTech Health PLC on Monday said that Seaport Therapeutics Inc, founded by PureTech, had filed for an initial public offering on New York's Nasdaq Stock Market.
The Boston, Massachusetts-based biotech and pharmaceutical firm launched Seaport back in 2024, with a USD100 million funding round.
Seaport is developing clinical neuropsychiatric drugs created and initially developed internally at PureTech. Its most advanced drug candidate is GlyphAllo, intended to treat major depressive disorder.
PureTech noted that Seaport has filed an IPO registration document with the US Securities & Exchange Commission, but that it is not yet effective.
"The timing, number of shares to be offered and the price range for the offering have not yet been determined. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed," PureTech added.
News of a possible float follows promising results for Seaport's GlyphAgo drug candidate for generalised anxiety disorder, posted earlier this month. Seaport is planning to progress the drug to phase-two testing.
PureTech shares rose 5.7% to 128.33 pence on Monday morning in London. The company's Nasdaq-listed stock was last quoted at USD16.71 in New York.
By Holly Munks, Alliance News reporter
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