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PRTC Launches Celea w/ $180M & Top Tier Syndicate
PureTech Health plc announced that its founded entity, Celea Therapeutics, has successfully completed a $180 million financing round to advance deupirfenidone for idiopathic pulmonary fibrosis (IPF). PureTech retains a 35.4% ownership in Celea and is entitled to non-dilutive royalties, milestone payments up to $190 million, and 20% of sublicense income. The proceeds will fund the initiation of the Phase 3 SURPASS-IPF trial in early Q3 2026, evaluating deupirfenidone against pirfenidone. PureTech also reserved an additional $70 million to potentially support Celea, ensuring its operational runway extends through at least the end of 2028. Disclaimer*
About this update from Puretech Health Plc
2 July 2026 PureTech Health plc PureTech Founded Entity Celea Therapeutics Completes $180 Million Financing to Advance Deupirfenidone as a Potential New Standard of Care to Treat Idiopathic Pulmonary Fibrosis (IPF) PureTech launches Celea as an independent company backed by a syndicate of top-tier healthcare investors, enabling PureTech's transition to a lean operating model PureTech retains 35.4% ownership of Celea in addition to non-dilutive royalties, milestone payments, and sublicense income, maintaining long-term potential upside Proceeds enable Celea to initiate SURPASS-IPF, the first head-to-head Phase 3 trial in IPF, evaluating superiority of deupirfenidone as a potential new standard of care PureTech Health plc (LSE: PRTC) ("PureTech" or the "Company"), a hub-and-spoke biotherapeutics company dedicated to giving life to science and transforming innovation into value, is pleased to note that its Founded Entity Celea Therapeutics ("Celea") today announced the completion of a $180 million financing. Participants included RA Capital Management, Leaps by Bayer, and founder PureTech Health, alongside a large, U.S.-based healthcare-focused fund and a leading sovereign wealth fund. Proceeds from the financing will support the planned early Q3 2026 initiation of the Phase 3 SURPASS-IPF trial of deupirfenidone (LYT-100), an investigational next-generation antifibrotic with the potential to serve as a new standard of care for people living with idiopathic pulmonary fibrosis (IPF). Robert Lyne, Chief Executive Officer of PureTech commented: "The completion of Celea's $180 million financing marks a transformative milestone for both PureTech and Celea. The participation from a distinguished syndicate of leading healthcare investors provides powerful third-party validation of the deupirfenidone program and the significant progress achieved to date, underscoring the meaningful commercial opportunity we collectively believe it represents. With this financing, Celea is now positioned to initiate the first-ever industry-sponsored head-to-head Phase 3 trial in IPF. Success in this pivotal trial has the potential to redefine the treatment landscape, delivering significant benefit for patients and value for shareholders. This transaction establishes Celea as an independent company with dedicat...
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