Paul Audhya joins Celea Therapeutics as CMO. 30 October 2026 Boston, USA-based biotech Celea Therapeutics, which is developing therapies for severe respiratory diseases, has announced the appointment of Dr Paul Audhya as its chief medical officer (CMO). Dr Audhya brings nearly three decades of experience in leading clinical development and global medical affairs organizations to Celea. He will be responsible for overseeing the company's clinical development and medical strategy, including the ongoing Phase III SURPASS-IPF trial. This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here. Try before you buy Free. 7 day trial access * All the news that moves the needle in pharma and biotech * Exclusive features, podcasts, interviews, data analyses and commentary from its global network of life sciences reporters. * Receive The Pharma Letter daily news bulletin, free forever. Become a subscriber £820. Or £77 per month * Unfettered access to industry-leading news, commentary and analysis in pharma and biotech. * Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results. * Daily roundup of key events in pharma and biotech. * Monthly in-depth briefings on Boardroom appointments and M&A news. * Choose from a cost-effective annual package or a flexible monthly subscription The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It's part of the key information for keeping me informed Chairman, Sanofi Aventis UK More on this story... 2 July 2026 21 August 2025 26 August 2025 Companies featured in this story. Sign up to receive email updates Join industry leaders for a daily roundup of biotech & pharma news Today's issue. 31 October 2026 30 October 2026 Company spotlight. A Berlin-based preclinical biotech, part of Sweden's Simris Group, developing amanitin-based antibody-drug conjugates for blood cancers, solid tumors and autoimmune disease, with the clinic targeted for late 2027 or early 2028. More features in biotechnology. 31 October 2026 30 October 2026

PureTech Health H1 earnings call highlights. September 22, 2026 Key points. * PureTech reported $220 million in cash and short-term investments at the parent-company level and expects its operational runway to last through at least the end of 2028, excluding potential monetization proceeds. * Portfolio financing advanced significantly: Seaport Therapeutics raised $260 million through its Nasdaq IPO, while Celea Therapeutics secured $180 million and began a global Phase III trial for deupirfenidone in idiopathic pulmonary fibrosis. * Gallop Oncology received FDA Fast Track designation for LYT-200 in relapsed or refractory high-risk MDS and plans to begin a 125-patient Phase II trial once external financing - potentially through equity or a pharmaceutical partnership - is secured. * MarketBeat previews top five stocks to own in October. PureTech Health NASDAQ: PRTC outlined progress across its portfolio in its 2026 half-year results call, highlighting external financings for Celea Therapeutics and Seaport Therapeutics, regulatory progress at Gallop Oncology, and a strategy centered on earlier external funding for its founded entities. Chief Executive Officer Robert Lyne said the company entered the first half with $220 million in cash equivalents and short-term investments at the PureTech level and continues to expect its operational runway to extend at least through the end of 2028. The runway assumption excludes any proceeds from potential monetization events involving its founded entities. Lyne said PureTech is refining its hub-and-spoke model to pursue greater capital efficiency while translating portfolio value more directly to shareholders. The company develops programs internally, then seeks to scale them through separately financed founded entities while retaining equity interests as well as potential milestones and royalties. Portfolio financing and clinical developments. Seaport Therapeutics completed a Nasdaq initial public offering in May that raised $260 million in gross proceeds, following private financings completed in 2024. PureTech holds a 31.2% equity interest in Seaport, which Lyne said was valued at approximately $360 million as of Sept. 18, 2026. PureTech also retains royalty and milestone rights related to Seaport. Celea Therapeutics, PureTech's pulmonary-focused spinout, secured $180 million from healthcare investors and began its global Phase III SURPASS-IPF trial of deupirfenidone for idiopathic pulmonary fibrosis. Deupirfenidone is designed to improve on FDA-approved pirfenidone through deuteration, according to the company. PureTech holds a 35.4% equity stake in Celea and retains royalties, milestone payments and sublicense-income rights. Lyne said $17.5 million of PureTech's overall $30 million contribution to Celea's financing occurred after the June half-year end. The company has also reserved $70 million for potential future investment in Celea, though the amount is not legally committed. Lyne said Celea's Phase III program shifts substantial development expenses out of PureTech. He said PureTech expects future annual cash burn, including overhead and innovation spending, of roughly $30 million to $40 million, compared with approximately $90 million annually while later-stage programs were being run internally. On the company's remaining economics from Cobenfy, the FDA-approved schizophrenia treatment marketed by Bristol Myers Squibb, PureTech said it has generated more than $1 billion from the collective Karuna Therapeutics and Cobenfy economics. Based on analyst consensus as of mid-August, the company estimated approximately $50 million in potential future proceeds from its remaining Cobenfy rights. Discover more Derivatives Market Cap Calculator Lyne noted that this estimate represented a material reduction from the company's prior update, but said it underscored the value of PureTech's 2023 transaction with Royalty Pharma, which provided $100 million in upfront cash while allowing the company to retain some future upside. Gallop seeks funding for Phase II MDS study. Gallop Oncology, which remains wholly owned by PureTech, received FDA Fast Track designation for LYT-200 in relapsed or refractory high-risk myelodysplastic syndromes, or MDS. The company also completed an end-of-Phase I meeting with the FDA and plans to start its Phase II STRIDE-MDS trial after securing external financing. Gallop Acting Chief Executive Officer Eric Elenko said LYT-200 is a monoclonal antibody targeting galectin-9 and is intended to directly kill cancer cells while restoring antitumor immune function. The therapy is being developed as a mutation-agnostic treatment approach. The planned randomized, double-blind, placebo-controlled trial is expected to enroll approximately 125 patients with relapsed or refractory high-risk MDS. Participants will be randomized to receive one of two LYT-200 dose levels in combination with a hypomethylating agent, or placebo plus a hypomethylating agent. The study will assess complete and partial response rates and support dose selection under the FDA's Project Optimus framework. Elenko said the FDA did not require biomarker selection for the trial, and Gallop currently has no biomarker plans. He added that the company's conservative projections suggest the study could take somewhat less than three years to complete, with the ultimate timeline dependent on site selection and enrollment rates. Lyne said PureTech is evaluating a range of financing possibilities for Gallop, including equity financing and potential pharmaceutical partnerships. The company aims to complete external financing by the first half of the following year, he said. While Elenko said strong results from STRIDE-MDS could provide commercial and financial optionality and potentially support more streamlined development discussions, he emphasized that Gallop is not presenting the Phase II trial as a pivotal study. Innovation strategy and capital allocation. PureTech's innovation engine is now focused on what it calls the LIFE model, or "launching innovation from existing pharmacology." Vice President of Research and Innovation Greg Zugates said the strategy identifies molecules or mechanisms that have shown clinical activity but whose broader potential has been constrained by limitations unrelated to efficacy. The company then seeks to develop proprietary solutions designed to overcome those limitations, using focused preclinical proof-of-concept experiments and predefined success criteria. PureTech aims to advance at least three opportunities to the concept stage annually and expects to provide additional detail during the first half of 2027. Zugates said the company continues to explore small-molecule therapeutics and central nervous system opportunities, including neuropsychiatry, while remaining broadly open to areas outside CNS. Lyne said current activity is running ahead of the company's target of at least three concept-stage programs per year, though PureTech does not plan to discuss individual programs in detail until next year. In discussing capital allocation, Lyne said PureTech intends to maintain an appropriate runway, invest selectively in opportunities with compelling risk-adjusted returns and consider capital returns to shareholders. He said the company does not view holding excess cash as a primary source of value creation and will weigh investment opportunities across late-stage programs such as Celea and earlier innovation efforts. About PureTech Health (NASDAQ:PRTC). PureTech Health plc is a biopharmaceutical company that develops medicines designed to address complex diseases, with a focus on disorders involving the immune system, the brain, and the body's lymphatic system. The company uses its proprietary therapeutic platforms to discover and advance drug candidates, either independently or through subsidiaries and strategic partnerships. PureTech's development portfolio has included treatments for neurological, immunological, inflammatory, and fibrotic conditions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider PureTech Health, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PureTech Health wasn't on the list. While PureTech Health currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys. The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. 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