Exhibit 99.1
28 August 2024
PureTech Health plc
Results of Annual General Meeting on 13 June 2024 – Update Statement
In accordance with Provision 4 of the UK Corporate Governance Code, PureTech (“PureTech” or the “Company”) today provides an update in respect of the results of its Annual General Meeting (AGM) held on June 13, 2024. While all resolutions were approved by shareholders, more than 20% of votes were cast against Resolutions 2, 3, 4 and 8, relating to the Directors’ Remuneration Report, the revised Remuneration Policy, related changes to the Performance Share Plan (“PSP”), and the re-election of John LaMattina as a Director, respectively.
Consistent with the Company’s commitment to maintaining ongoing, transparent dialogue with its shareholders, the Company has actively engaged with shareholders throughout the year and in the lead up to the AGM, primarily as part of finalizing a revised Remuneration Policy. Since the AGM, the Board has taken further steps to understand the views of shareholders. Specifically, the Company wrote to shareholders representing more than 70% of the Company’s issued share capital1 to offer engagement with the Chair of the Board. Following that initial outreach, meetings were held with shareholders representing more than 50% of issued share capital1 during the months of July and August. While there were a variety of topics discussed during these engagements, there was broad recognition from shareholders regarding the rationale for the changes made to the Remuneration Policy and the implementation of the previous policy, particularly in relation to the challenges the Company faces as a UK-listed business competing for talent in the US where its operations are based.
The Board would like to thank the shareholders who have engaged with the Company during this process. The Board will continue to engage openly and constructively with shareholders as it continues to develop the Company’s approach to governance, remuneration and reporting in the periods ahead.
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 two that have received both U.S. FDA clearance and European marketing authorization and a third (KarXT) that has been filed for FDA approval. 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 or connect with us on X (formerly Twitter) @puretechh.
| 1 | Based on the issued share capital as of March 31, 2024. |
