- PureTech Health, which develops treatments for 'dysfunctions of the brain-immune-gut axis', booked an full-year loss as it ramped up R&D spending.

Pre-tax losses for the year through December amounted to $68.4m, compared to losses of $70.7m on-year.

'It has been an exhilarating year and we believe we are on the cusp of unlocking significant value for our shareholders,' founder and chief executive Daphne Zohar said.

'We are gratified by the excellent reception of our internal R&D group, which has already secured partnerships with two major pharmaceutical companies, validating the science while enabling PureTech Health to retain most of the rights to the core platforms.'

'We believe that six of our affiliates have the potential for monetisation over the next 12 to 18 months, and we are extremely excited by the post-period news about Gelesis' landmark FDA clearance last week, which is a testament to what our team has been able to accomplish by thinking differently about major health issues.'

At 9:31am: [LON:PRTC] PureTech Health Plc share price was -5.5p at 181p

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