2024FY0001782999FalsetrueP1Yxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureptv:segmentptv:entityptv:business_dayptv:employeeiso4217:GBPxbrli:sharesptv:penceptv:simulationutr:Yptv:voteptv:trancheiso4217:EURxbrli:sharesutr:sqftptv:period00017829992024-01-012024-12-310001782999dei:BusinessContactMember2024-01-012024-12-310001782999ptv:AmericanDepositarySharesMember2024-01-012024-12-310001782999ifrs-full:OrdinarySharesMember2024-01-012024-12-3100017829992024-12-3100017829992022-01-012022-12-3100017829992023-01-012023-12-3100017829992023-12-310001782999ifrs-full:IssuedCapitalMember2021-12-310001782999ifrs-full:SharePremiumMember2021-12-310001782999ifrs-full:TreasurySharesMember2021-12-310001782999ifrs-full:MergerReserveMember2021-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2021-12-310001782999ifrs-full:OtherReservesMember2021-12-310001782999ifrs-full:RetainedEarningsMember2021-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2021-12-310001782999ifrs-full:NoncontrollingInterestsMember2021-12-3100017829992021-12-310001782999ifrs-full:RetainedEarningsMember2022-01-012022-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2022-01-012022-12-310001782999ifrs-full:NoncontrollingInterestsMember2022-01-012022-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-01-012022-12-310001782999ifrs-full:IssuedCapitalMember2022-01-012022-12-310001782999ifrs-full:SharePremiumMember2022-01-012022-12-310001782999ifrs-full:TreasurySharesMember2022-01-012022-12-310001782999ifrs-full:OtherReservesMember2022-01-012022-12-310001782999ifrs-full:IssuedCapitalMember2022-12-310001782999ifrs-full:SharePremiumMember2022-12-310001782999ifrs-full:TreasurySharesMember2022-12-310001782999ifrs-full:MergerReserveMember2022-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-12-310001782999ifrs-full:OtherReservesMember2022-12-310001782999ifrs-full:RetainedEarningsMember2022-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2022-12-310001782999ifrs-full:NoncontrollingInterestsMember2022-12-3100017829992022-12-310001782999ifrs-full:RetainedEarningsMember2023-01-012023-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2023-01-012023-12-310001782999ifrs-full:NoncontrollingInterestsMember2023-01-012023-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-01-012023-12-310001782999ifrs-full:IssuedCapitalMember2023-01-012023-12-310001782999ifrs-full:SharePremiumMember2023-01-012023-12-310001782999ifrs-full:TreasurySharesMember2023-01-012023-12-310001782999ifrs-full:OtherReservesMember2023-01-012023-12-310001782999ifrs-full:IssuedCapitalMember2023-12-310001782999ifrs-full:SharePremiumMember2023-12-310001782999ifrs-full:TreasurySharesMember2023-12-310001782999ifrs-full:MergerReserveMember2023-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-12-310001782999ifrs-full:OtherReservesMember2023-12-310001782999ifrs-full:RetainedEarningsMember2023-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2023-12-310001782999ifrs-full:NoncontrollingInterestsMember2023-12-310001782999ifrs-full:RetainedEarningsMember2024-01-012024-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2024-01-012024-12-310001782999ifrs-full:NoncontrollingInterestsMember2024-01-012024-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2024-01-012024-12-310001782999ifrs-full:IssuedCapitalMember2024-01-012024-12-310001782999ifrs-full:TreasurySharesMember2024-01-012024-12-310001782999ifrs-full:OtherReservesMember2024-01-012024-12-310001782999ifrs-full:IssuedCapitalMember2024-12-310001782999ifrs-full:SharePremiumMember2024-12-310001782999ifrs-full:TreasurySharesMember2024-12-310001782999ifrs-full:MergerReserveMember2024-12-310001782999ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2024-12-310001782999ifrs-full:OtherReservesMember2024-12-310001782999ifrs-full:RetainedEarningsMember2024-12-310001782999ifrs-full:EquityAttributableToOwnersOfParentMember2024-12-310001782999ifrs-full:NoncontrollingInterestsMember2024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:GallopOncologyInc.IndirectlyHeldThroughPureTechLYTMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:GallopOncologyInc.IndirectlyHeldThroughPureTechLYTMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EntregaMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EntregaMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EntregaMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EntregaMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EntregaMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EntregaMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYTMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYTMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYTMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYTMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYTMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYTMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYT100Member2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYT100Member2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYT100Member2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYT100Member2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechLYT100Member2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechLYT100Member2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechManagementMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechManagementMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechManagementMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechManagementMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechManagementMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechManagementMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechHealthMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechHealthMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechHealthMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechHealthMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechHealthMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechHealthMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:SondeMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:SondeMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:SondeMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:SondeMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:SondeMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:SondeMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AkiliInteractiveLabsMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AkiliInteractiveLabsMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AkiliInteractiveLabsMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AkiliInteractiveLabsMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AkiliInteractiveLabsMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AkiliInteractiveLabsMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:GelesisMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:GelesisMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:GelesisMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:GelesisMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:GelesisMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:GelesisMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:SeaportTherapeuticsInc.Member2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:SeaportTherapeuticsInc.Member2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:SPTXInc.HeldIndirectlyThroughSeaportMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:SPTXInc.HeldIndirectlyThroughSeaportMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:KarunaMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:KarunaMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:KarunaMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:KarunaMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:KarunaMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:KarunaMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VedantaBiosciencesSecuritiesCorpMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VorMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VorMember2024-01-012024-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VorMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VorMember2023-01-012023-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:VorMember2022-01-012022-12-310001782999ptv:DeconsolidatedFormerSubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:VorMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EndraHoldingsLLCMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EndraHoldingsLLCMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EndraHoldingsLLCMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EndraHoldingsLLCMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EndraHoldingsLLCMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EndraHoldingsLLCMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EnsofHoldingsLLCMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EnsofHoldingsLLCMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EnsofHoldingsLLCMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EnsofHoldingsLLCMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:EnsofHoldingsLLCMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:EnsofHoldingsLLCMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesCorpMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesCorpMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesCorpMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesCorpMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesCorpMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesCorpMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesIICorpMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesIICorpMember2024-01-012024-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesIICorpMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesIICorpMember2023-01-012023-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:OrdinarySharesMemberptv:PureTechSecuritiesIICorpMember2022-01-012022-12-310001782999ptv:NontradingHoldingCompaniesMemberifrs-full:PreferenceSharesMemberptv:PureTechSecuritiesIICorpMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AlivioMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AlivioMember2024-01-012024-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AlivioMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AlivioMember2023-01-012023-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:OrdinarySharesMemberptv:AlivioMember2022-01-012022-12-310001782999ptv:SubsidiaryOperatingCompaniesMemberifrs-full:PreferenceSharesMemberptv:AlivioMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:AppeeringMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:AppeeringMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:AppeeringMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:AppeeringMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:AppeeringMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:AppeeringMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:CommenseMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:CommenseMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:CommenseMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:CommenseMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:CommenseMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:CommenseMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnlightMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnlightMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnlightMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnlightMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnlightMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnlightMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnsofBiosystemsIncMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnsofBiosystemsIncMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnsofBiosystemsIncMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnsofBiosystemsIncMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:EnsofBiosystemsIncMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:EnsofBiosystemsIncMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:FollicaMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:FollicaMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:FollicaMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:FollicaMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:FollicaMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:FollicaMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:KnodeMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:KnodeMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:KnodeMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:KnodeMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:KnodeMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:KnodeMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:LibraBiosciencesIncMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:LibraBiosciencesIncMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:LibraBiosciencesIncMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:LibraBiosciencesIncMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:LibraBiosciencesIncMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:LibraBiosciencesIncMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:MandaraSciencesLLCMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:MandaraSciencesLLCMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:MandaraSciencesLLCMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:MandaraSciencesLLCMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:MandaraSciencesLLCMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:MandaraSciencesLLCMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:TalMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:TalMember2024-01-012024-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:TalMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:TalMember2023-01-012023-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:OrdinarySharesMemberptv:TalMember2022-01-012022-12-310001782999ptv:InactiveSubsidiariesMemberifrs-full:PreferenceSharesMemberptv:TalMember2022-01-012022-12-310001782999ptv:LaboratoryAndManufacturingEquipmentMembersrt:MinimumMember2024-01-012024-12-310001782999ptv:LaboratoryAndManufacturingEquipmentMembersrt:MaximumMember2024-01-012024-12-310001782999ifrs-full:FixturesAndFittingsMember2024-01-012024-12-310001782999ifrs-full:ComputerEquipmentMembersrt:MinimumMember2024-01-012024-12-310001782999ifrs-full:ComputerEquipmentMembersrt:MaximumMember2024-01-012024-12-310001782999ifrs-full:LeaseholdImprovementsMembersrt:MinimumMember2024-01-012024-12-310001782999ifrs-full:LeaseholdImprovementsMembersrt:MaximumMember2024-01-012024-12-310001782999ifrs-full:AssociatesMemberptv:GelesisMember2024-01-012024-12-310001782999ifrs-full:AssociatesMemberptv:GelesisMember2022-01-012022-12-310001782999ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember2024-01-012024-12-310001782999ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember2023-01-012023-12-310001782999ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember2022-01-012022-12-310001782999ifrs-full:GoodsOrServicesTransferredOverTimeMember2024-01-012024-12-310001782999ifrs-full:GoodsOrServicesTransferredOverTimeMember2023-01-012023-12-310001782999ifrs-full:GoodsOrServicesTransferredOverTimeMember2022-01-012022-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerAMember2024-01-012024-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerAMember2023-01-012023-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerAMember2022-01-012022-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerBMember2024-01-012024-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerBMember2023-01-012023-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerBMember2022-01-012022-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerCMember2024-01-012024-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerCMember2023-01-012023-12-310001782999ptv:Over10PercentOfRevenueMemberptv:CustomerCMember2022-01-012022-12-310001782999ptv:Over10PercentOfRevenueMember2024-01-012024-12-310001782999ptv:Over10PercentOfRevenueMember2023-01-012023-12-310001782999ptv:Over10PercentOfRevenueMember2022-01-012022-12-310001782999ptv:WhollyOwnedProgramsMember2024-12-310001782999ptv:ControlledFoundedEntitiesMember2024-12-310001782999ptv:EstablishmentOfNewEntitiesMember2024-01-310001782999ptv:SeaportMember2023-01-012023-12-310001782999ptv:SeaportMember2024-01-012024-12-310001782999ptv:WhollyOwnedProgramsMember2024-01-012024-12-310001782999ptv:ControlledFoundedEntitiesMember2024-01-012024-12-310001782999ptv:ParentCompanyAndOtherMember2024-01-012024-12-310001782999ifrs-full:OperatingSegmentsMember2024-01-012024-12-310001782999ptv:ParentCompanyAndOtherMember2024-12-310001782999ifrs-full:OperatingSegmentsMember2024-12-310001782999ptv:WhollyOwnedProgramsMember2023-01-012023-12-310001782999ptv:ControlledFoundedEntitiesMember2023-01-012023-12-310001782999ptv:ParentCompanyAndOtherMember2023-01-012023-12-310001782999ifrs-full:OperatingSegmentsMember2023-01-012023-12-310001782999ptv:WhollyOwnedProgramsMember2023-12-310001782999ptv:ControlledFoundedEntitiesMember2023-12-310001782999ptv:ParentCompanyAndOtherMember2023-12-310001782999ifrs-full:OperatingSegmentsMember2023-12-310001782999ptv:WhollyOwnedProgramsMember2022-01-012022-12-310001782999ptv:ControlledFoundedEntitiesMember2022-01-012022-12-310001782999ptv:ParentCompanyAndOtherMember2022-01-012022-12-310001782999ifrs-full:OperatingSegmentsMember2022-01-012022-12-310001782999ptv:VedantaMember2023-01-012023-12-310001782999ptv:GelesisMember2023-01-012023-12-310001782999ptv:KarunaAndVorMember2023-01-012023-12-310001782999ptv:KarunaMember2024-01-012024-12-310001782999ptv:AkiliMember2024-01-012024-12-310001782999ptv:VedantaMember2024-01-012024-12-310001782999ptv:VedantaMember2023-01-012023-12-310001782999ptv:VedantaMember2024-12-310001782999ptv:VedantaMember2023-12-310001782999ifrs-full:OrdinarySharesMemberptv:KarunaMember2022-08-080001782999ptv:KarunaMember2022-08-012022-09-300001782999ifrs-full:OrdinarySharesMemberptv:KarunaMember2023-12-310001782999ptv:KarunaMember2023-12-3100017829992024-03-012024-03-310001782999ptv:KarunaMember2024-03-012024-03-310001782999ptv:KarunaMember2024-03-310001782999ptv:KarunaMember2023-01-012023-12-310001782999ptv:KarunaMember2022-01-012022-12-310001782999ifrs-full:OrdinarySharesMemberptv:VorMember2019-02-0900017829992019-02-090001782999ptv:VorMember2023-12-310001782999ptv:VorMember2022-08-012022-12-310001782999ptv:VorMember2024-01-012024-12-310001782999ptv:VorMember2023-01-012023-12-310001782999ptv:VorMember2022-01-012022-12-310001782999ptv:VorMember2024-12-310001782999ptv:CapstarMember2022-01-130001782999ptv:GelesisMember2022-01-132022-01-130001782999ptv:GelesisMember2023-02-012023-02-280001782999ptv:GelesisMember2023-02-280001782999ptv:GelesisMember2023-05-012023-05-310001782999ifrs-full:TopOfRangeMemberptv:GelesisMember2023-05-310001782999ptv:GelesisMember2023-05-262023-05-260001782999ifrs-full:BottomOfRangeMemberptv:GelesisMember2023-05-310001782999ptv:GelesisMember2023-02-212023-02-210001782999ptv:GelesisMember2023-12-310001782999ptv:GelesisMember2024-12-310001782999ptv:GelesisMember2024-01-012024-12-310001782999ptv:SondeMember2022-05-250001782999ptv:SondeMember2024-01-012024-12-310001782999ptv:SondeMember2023-01-012023-12-310001782999ptv:SondeMember2022-01-012022-12-310001782999ptv:SondeMember2024-12-310001782999ptv:SeriesPreferredA2AndBMemberptv:SondeMember2024-12-310001782999ptv:SeriesPreferredA2AndBMemberptv:SondeMember2023-12-310001782999ptv:AkiliMember2022-08-190001782999ptv:AkiliMember2022-08-192022-08-190001782999ptv:AkiliMember2022-01-012022-12-310001782999ptv:AkiliMember2024-07-022024-07-020001782999ptv:AkiliMember2023-01-012023-12-310001782999ptv:PreferredStockSeriesBMemberptv:SeaportMember2024-10-180001782999ptv:SeriesA2PreferredStockMemberptv:SeaportMember2024-10-180001782999ptv:SeriesA1PreferredStockMemberptv:SeaportMember2024-10-180001782999ptv:SeaportMember2024-10-180001782999ptv:SeaportMember2024-12-310001782999ptv:SeaportMember2024-01-012024-12-310001782999ptv:CapstarMember2021-12-300001782999ptv:CapstarMember2024-12-310001782999ptv:CapstarMemberptv:DerivativeAssetBackstopAgreementMember2023-01-012023-12-310001782999ptv:CapstarMemberptv:DerivativeAssetBackstopAgreementMember2022-01-012022-12-310001782999ptv:CapstarMemberptv:DerivativeAssetBackstopAgreementMember2022-01-130001782999ptv:GelesisHoldingsIncMember2022-01-140001782999ptv:GelesisMember2022-12-310001782999ptv:GelesisMember2022-01-130001782999ptv:GelesisMember2022-01-012022-01-130001782999ptv:GelesisMember2022-01-012022-12-310001782999ptv:GelesisMember2023-02-012023-02-210001782999ptv:GelesisMember2023-02-210001782999ptv:MayWarrantsMemberptv:GelesisMember2023-05-012023-05-310001782999ptv:MayWarrantsMemberptv:GelesisMemberifrs-full:TopOfRangeMember2023-05-010001782999ptv:MayWarrantsMemberptv:GelesisMemberifrs-full:BottomOfRangeMember2023-05-260001782999ptv:SondeMember2022-05-260001782999ptv:PreferredA1SharesMemberptv:SondeMember2022-05-250001782999ptv:SondeAfterFinancingMember2024-12-310001782999ptv:SondeAfterFinancingMember2024-01-012024-12-310001782999ptv:SeaportMember2024-10-180001782999ptv:SeaportMember2024-12-310001782999ptv:SeaportMember2024-01-012024-12-310001782999ptv:UnsecuredPromissoryNoteReceivableMemberptv:GelesisMember2022-07-270001782999ptv:UnsecuredPromissoryNoteReceivableMember2022-07-272022-07-270001782999ptv:SeniorSecuredConvertiblePromissoryNoteMemberptv:GelesisMember2023-01-012023-12-310001782999ptv:ConvertibleNoteReceivableMemberptv:GelesisMember2024-01-012024-12-310001782999ptv:SeniorSecuredConvertiblePromissoryNoteMemberptv:GelesisMember2024-12-310001782999ptv:SeniorSecuredConvertiblePromissoryNoteMemberptv:GelesisMember2023-12-310001782999ptv:GelesisMember2024-06-012024-06-300001782999ptv:NetAssetsFromBankruptcyMemberptv:GelesisMember2024-12-310001782999ptv:NetAssetsFromBankruptcyMemberptv:GelesisMember2023-01-012023-12-310001782999ptv:VedantaBiosciencesMember2023-04-242023-04-240001782999ptv:ConvertibleNoteReceivableMemberptv:VedantaBiosciencesMember2023-04-240001782999ptv:VedantaBiosciencesMember2023-04-240001782999ptv:VedantaBiosciencesMemberptv:ConvertibleNoteReceivableMember2024-12-310001782999ptv:VedantaBiosciencesMemberptv:ConvertibleNoteReceivableMember2023-12-310001782999ptv:VedantaBiosciencesMember2024-01-012024-12-310001782999ptv:VedantaBiosciencesMember2023-01-012023-12-310001782999ptv:NoteReceivableMember2024-12-310001782999ptv:NoteReceivableMember2023-12-310001782999ptv:NoteReceivableMember2022-12-310001782999ptv:NoteReceivableMemberptv:GelesisMember2023-01-012023-12-310001782999ptv:NoteReceivableMemberptv:VedantaMember2023-01-012023-12-310001782999ptv:NoteReceivableMember2023-01-012023-12-310001782999ptv:ConvertiblePromissoryNoteMemberptv:GelesisMember2023-12-310001782999ptv:NoteReceivableMember2024-01-012024-12-310001782999ptv:SondeMember2024-12-310001782999ptv:VedantaMember2024-12-310001782999ptv:SeaportMember2024-12-310001782999ptv:VedantaMember2023-12-310001782999ptv:SondeMember2022-12-310001782999ptv:GeneralAndAdministrativeMember2024-01-012024-12-310001782999ptv:GeneralAndAdministrativeMember2023-01-012023-12-310001782999ptv:GeneralAndAdministrativeMember2022-01-012022-12-310001782999ptv:ResearchAndDevelopmentMember2024-01-012024-12-310001782999ptv:ResearchAndDevelopmentMember2023-01-012023-12-310001782999ptv:ResearchAndDevelopmentMember2022-01-012022-12-310001782999ptv:GeneralAndAdministrativeMember2024-01-012024-12-310001782999ptv:GeneralAndAdministrativeMember2023-01-012023-12-310001782999ptv:GeneralAndAdministrativeMember2022-01-012022-12-310001782999ptv:ResearchAndDevelopmentMember2024-01-012024-12-310001782999ptv:ResearchAndDevelopmentMember2023-01-012023-12-310001782999ptv:ResearchAndDevelopmentMember2022-01-012022-12-310001782999ptv:A2015PerformanceSharePlanMember2023-06-012023-06-300001782999ptv:A2023PerformanceSharePlanMember2015-06-012015-06-300001782999ptv:A2023PerformanceSharePlanMember2024-01-012024-12-310001782999ptv:PerformanceSharePlanMember2024-01-012024-12-310001782999ptv:TimeBasedRSUsMember2024-01-012024-12-310001782999ptv:TimeBasedRSUsMember2023-01-012023-12-310001782999ptv:PerformanceBasedRSUsMember2024-01-012024-12-310001782999ptv:PerformanceBasedRSUsMember2023-01-012023-12-310001782999ifrs-full:RestrictedShareUnitsMember2024-01-012024-12-310001782999ifrs-full:RestrictedShareUnitsMember2023-01-012023-12-310001782999ptv:RestrictedShareUnitsRSUMember2021-12-310001782999ptv:RestrictedShareUnitsRSUMember2022-01-012022-12-310001782999ptv:RestrictedShareUnitsRSUMember2022-12-310001782999ptv:RestrictedShareUnitsRSUMember2023-01-012023-12-310001782999ptv:RestrictedShareUnitsRSUMember2023-12-310001782999ptv:RestrictedShareUnitsRSUMember2024-01-012024-12-310001782999ptv:RestrictedShareUnitsRSUMember2024-12-310001782999ptv:PerformanceMarketAndServiceBasedRSUMembersrt:MinimumMember2024-01-012024-12-310001782999ptv:PerformanceMarketAndServiceBasedRSUMembersrt:MaximumMember2024-01-012024-12-310001782999ptv:PerformanceMarketAndServiceBasedRSUMember2024-12-310001782999ptv:PerformanceBasedRSUMember2024-01-012024-12-310001782999ifrs-full:RestrictedShareUnitsMember2022-01-012022-12-310001782999ifrs-full:RestrictedShareUnitsMember2024-12-310001782999ifrs-full:RestrictedShareUnitsMember2023-12-3100017829992021-01-012021-12-310001782999ptv:StockOptionsMember2024-01-012024-12-310001782999ptv:StockOptionsMember2023-01-012023-12-310001782999ptv:StockOptionsMember2022-01-012022-12-310001782999ptv:ExercisePriceRangeOneMember2024-12-310001782999ptv:ExercisePriceRangeOneMember2024-01-012024-12-310001782999ifrs-full:BottomOfRangeMemberptv:ExercisePriceRangeTwoMember2024-12-310001782999ifrs-full:TopOfRangeMemberptv:ExercisePriceRangeTwoMember2024-12-310001782999ptv:ExercisePriceRangeTwoMember2024-12-310001782999ptv:ExercisePriceRangeTwoMember2024-01-012024-12-310001782999ifrs-full:BottomOfRangeMemberptv:ExercisePriceRangeThreeMember2024-12-310001782999ifrs-full:TopOfRangeMemberptv:ExercisePriceRangeThreeMember2024-12-310001782999ptv:ExercisePriceRangeThreeMember2024-12-310001782999ptv:ExercisePriceRangeThreeMember2024-01-012024-12-310001782999ifrs-full:BottomOfRangeMemberptv:ExercisePriceRangeFourMember2024-12-310001782999ifrs-full:TopOfRangeMemberptv:ExercisePriceRangeFourMember2024-12-310001782999ptv:ExercisePriceRangeFourMember2024-12-310001782999ptv:ExercisePriceRangeFourMember2024-01-012024-12-310001782999ptv:AllSubsidiariesMemberptv:StockIncentivePlanMember2024-01-012024-12-310001782999ptv:AllSubsidiariesMemberptv:StockIncentivePlanMember2023-01-012023-12-310001782999ptv:AllSubsidiariesMemberptv:StockIncentivePlanMember2022-01-012022-12-310001782999ptv:SeaportMember2024-10-182024-10-180001782999ptv:EntregaMember2023-12-310001782999ptv:EntregaMember2024-01-012024-12-310001782999ptv:EntregaMember2024-12-310001782999ptv:SeaportMember2023-12-310001782999ptv:SeaportMember2024-01-012024-12-310001782999ptv:SeaportMember2024-12-310001782999ptv:EntregaMember2022-12-310001782999ptv:EntregaMember2023-01-012023-12-310001782999ptv:FollicaMember2022-12-310001782999ptv:FollicaMember2023-01-012023-12-310001782999ptv:FollicaMember2023-12-310001782999ptv:VedantaBiosciencesMember2022-12-310001782999ptv:VedantaBiosciencesMember2023-01-012023-12-310001782999ptv:VedantaBiosciencesMember2023-12-310001782999ptv:EntregaMember2021-12-310001782999ptv:EntregaMember2022-01-012022-12-310001782999ptv:FollicaMember2021-12-310001782999ptv:FollicaMember2022-01-012022-12-310001782999ptv:SondeMember2021-12-310001782999ptv:SondeMember2022-01-012022-12-310001782999ptv:SondeMember2022-12-310001782999ptv:VedantaBiosciencesMember2021-12-310001782999ptv:VedantaBiosciencesMember2022-01-012022-12-310001782999ptv:SeaportMember2023-01-012023-12-310001782999ptv:SeaportMember2022-01-012022-12-310001782999ptv:FollicaMember2024-01-012024-12-310001782999ptv:VedantaBiosciencesMember2024-01-012024-12-310001782999ifrs-full:BottomOfRangeMemberptv:EntregaMember2024-12-310001782999ifrs-full:TopOfRangeMemberptv:EntregaMember2024-12-310001782999ptv:BasicMember2024-01-012024-12-310001782999ptv:BasicMember2023-01-012023-12-310001782999ptv:BasicMember2022-01-012022-12-310001782999ptv:DilutedMember2022-01-012022-12-310001782999ifrs-full:GrossCarryingAmountMemberptv:LaboratoryAndManufacturingEquipmentMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:FixturesAndFittingsMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LeaseholdImprovementsMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ConstructionInProgressMember2022-12-310001782999ifrs-full:GrossCarryingAmountMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberptv:LaboratoryAndManufacturingEquipmentMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:FixturesAndFittingsMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LeaseholdImprovementsMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ConstructionInProgressMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberptv:LaboratoryAndManufacturingEquipmentMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:FixturesAndFittingsMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LeaseholdImprovementsMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ConstructionInProgressMember2023-12-310001782999ifrs-full:GrossCarryingAmountMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberptv:LaboratoryAndManufacturingEquipmentMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:FixturesAndFittingsMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LeaseholdImprovementsMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ConstructionInProgressMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberptv:LaboratoryAndManufacturingEquipmentMember2024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:FixturesAndFittingsMember2024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LeaseholdImprovementsMember2024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:ConstructionInProgressMember2024-12-310001782999ifrs-full:GrossCarryingAmountMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberptv:LaboratoryAndManufacturingEquipmentMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:FixturesAndFittingsMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:LeaseholdImprovementsMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ConstructionInProgressMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2022-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberptv:LaboratoryAndManufacturingEquipmentMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:FixturesAndFittingsMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:LeaseholdImprovementsMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ConstructionInProgressMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2023-01-012023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberptv:LaboratoryAndManufacturingEquipmentMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:FixturesAndFittingsMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:LeaseholdImprovementsMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ConstructionInProgressMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2023-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberptv:LaboratoryAndManufacturingEquipmentMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:FixturesAndFittingsMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:LeaseholdImprovementsMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ConstructionInProgressMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-01-012024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberptv:LaboratoryAndManufacturingEquipmentMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:FixturesAndFittingsMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:LeaseholdImprovementsMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ConstructionInProgressMember2024-12-310001782999ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-12-310001782999ptv:LaboratoryAndManufacturingEquipmentMember2023-12-310001782999ifrs-full:FixturesAndFittingsMember2023-12-310001782999ifrs-full:ComputerEquipmentMember2023-12-310001782999ifrs-full:LeaseholdImprovementsMember2023-12-310001782999ifrs-full:ConstructionInProgressMember2023-12-310001782999ptv:LaboratoryAndManufacturingEquipmentMember2024-12-310001782999ifrs-full:FixturesAndFittingsMember2024-12-310001782999ifrs-full:ComputerEquipmentMember2024-12-310001782999ifrs-full:LeaseholdImprovementsMember2024-12-310001782999ifrs-full:ConstructionInProgressMember2024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LicencesMember2022-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LicencesMember2023-01-012023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LicencesMember2023-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LicencesMember2024-01-012024-12-310001782999ifrs-full:GrossCarryingAmountMemberifrs-full:LicencesMember2024-12-310001782999ptv:SondeMember2024-01-012024-12-310001782999ptv:SondeMember2023-01-012023-12-310001782999ifrs-full:OrdinarySharesMember2024-12-310001782999ifrs-full:OrdinarySharesMember2023-12-310001782999ifrs-full:OrdinarySharesMember2023-01-012023-12-310001782999ifrs-full:OrdinarySharesMemberptv:PureTechHealthMember2015-06-180001782999ifrs-full:OrdinarySharesMember2022-05-090001782999ifrs-full:OrdinarySharesMemberptv:JefferiesInternationalLimitedMember2022-05-090001782999ifrs-full:OrdinarySharesMember2024-02-290001782999ptv:SeriesA2PreferredSharesMember2024-03-012024-03-310001782999ifrs-full:OrdinarySharesMember2024-06-060001782999ifrs-full:OrdinarySharesMember2024-06-2400017829992024-01-012024-06-300001782999ptv:SeriesA2PreferredSharesMember2024-04-012024-04-300001782999ptv:SeriesA2PreferredSharesMember2024-04-300001782999ptv:SeriesA1PreferredMemberptv:SubsidiaryPreferredSharesMember2024-01-012024-12-310001782999ptv:PreferredStockSeriesBMember2024-10-012024-10-010001782999ptv:PreferredStockSeriesBMember2024-10-310001782999ptv:FollicaMember2024-12-310001782999ptv:SubsidiaryPreferredSharesMember2022-12-310001782999ptv:SubsidiaryPreferredSharesMember2023-01-012023-12-310001782999ptv:SubsidiaryPreferredSharesMember2023-12-310001782999ptv:SubsidiaryPreferredSharesMember2024-01-012024-12-310001782999ptv:SubsidiaryPreferredSharesMember2024-12-310001782999ptv:RoyaltyPharmaMember2023-03-222023-03-2200017829992023-03-222023-03-2200017829992023-03-232023-03-230001782999ptv:SubsidiaryPreferredSharesMemberifrs-full:AtFairValueMember2024-12-310001782999ptv:SubsidiaryPreferredSharesMemberifrs-full:AtFairValueMember2023-12-310001782999ptv:SeaportVedantaAndSondeMember2024-01-012024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2022-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:VedantaMemberptv:InvestmentsHeldAtFairValueMember2023-01-012023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:GelesisMemberptv:InvestmentsHeldAtFairValueMember2023-01-012023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2023-01-012023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:VedantaMemberptv:InvestmentsHeldAtFairValueMember2024-01-012024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2024-01-012024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EquityValueMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EquityValueMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:TimeToLiquidityMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:TimeToLiquidityMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:DosingMilestoneAchievedProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:DosingMilestoneAchievedProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EarlyAndLateIPOScenarioProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMembersrt:MaximumMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EarlyAndLateIPOScenarioProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMembersrt:MinimumMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EarlyAndLateIPOScenarioProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveOPMMemberptv:SeaportMemberptv:EarlyAndLateIPOScenarioProbabilityMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberptv:EquityValueMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberptv:EquityValueMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberptv:TimeToLiquidityMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberptv:TimeToLiquidityMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberifrs-full:HistoricalVolatilityForSharesMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-12-310001782999ptv:MarketBacksolveApproachLeverageMonteCarloSimulationMemberptv:VedantaMemberifrs-full:HistoricalVolatilityForSharesMeasurementInputMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:PreferenceSharesMember2024-01-012024-12-310001782999ptv:ConvertiblePromissoryNoteMemberptv:GelesisMember2024-12-310001782999ptv:ConvertiblePromissoryNoteMemberptv:GelesisMember2024-01-012024-12-310001782999ptv:ConvertiblePromissoryNoteMemberptv:VedantaMember2024-01-012024-12-310001782999ptv:NetAssetsFromBankruptcyMemberptv:GelesisMember2024-01-012024-12-310001782999ifrs-full:CarryingAmountMemberifrs-full:CorporateLoansMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2024-12-310001782999ifrs-full:CorporateLoansMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:ShortTermNoteFromAssociateMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2024-12-310001782999ptv:ShortTermNoteFromAssociateMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:InvestmentsHeldAtFairValueMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2024-12-310001782999ptv:InvestmentsHeldAtFairValueMember2024-12-310001782999ifrs-full:CarryingAmountMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMember2024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:ShareBasedLiabiltyAwardsMember2024-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2024-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2024-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2024-12-310001782999ptv:ShareBasedLiabiltyAwardsMember2024-12-310001782999ifrs-full:CarryingAmountMemberifrs-full:CorporateLoansMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:CorporateLoansMember2023-12-310001782999ifrs-full:CorporateLoansMember2023-12-310001782999ifrs-full:CarryingAmountMemberptv:ShortTermNoteFromAssociateMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:ShortTermNoteFromAssociateMember2023-12-310001782999ptv:ShortTermNoteFromAssociateMember2023-12-310001782999ifrs-full:CarryingAmountMemberptv:InvestmentsHeldAtFairValueMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:InvestmentsHeldAtFairValueMember2023-12-310001782999ptv:InvestmentsHeldAtFairValueMember2023-12-310001782999ifrs-full:CarryingAmountMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMember2023-12-310001782999ifrs-full:CarryingAmountMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:CarryingAmountMemberptv:ShareBasedLiabiltyAwardsMember2023-12-310001782999ifrs-full:Level1OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2023-12-310001782999ifrs-full:Level2OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2023-12-310001782999ifrs-full:Level3OfFairValueHierarchyMemberptv:ShareBasedLiabiltyAwardsMember2023-12-310001782999ptv:ShareBasedLiabiltyAwardsMember2023-12-310001782999ptv:LoanMember2024-12-310001782999ptv:LoanMember2023-12-310001782999ptv:SubsidiaryConvertibleNotesMember2024-12-310001782999ptv:SubsidiaryConvertibleNotesMember2023-12-310001782999ptv:SubsidiaryNotesPayableMember2024-12-310001782999ptv:SubsidiaryNotesPayableMember2023-12-310001782999ptv:LighthouseCapitalPartnersVILPMemberptv:LoanMemberptv:FollicaMember2010-10-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2021-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2021-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2021-12-310001782999ptv:SubsidiaryConvertibleNotesMember2021-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2022-01-012022-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2022-01-012022-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2022-01-012022-12-310001782999ptv:SubsidiaryConvertibleNotesMember2022-01-012022-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2022-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2022-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2022-12-310001782999ptv:SubsidiaryConvertibleNotesMember2022-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2023-01-012023-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2023-01-012023-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2023-01-012023-12-310001782999ptv:SubsidiaryConvertibleNotesMember2023-01-012023-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2023-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2023-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2023-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2024-01-012024-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2024-01-012024-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2024-01-012024-12-310001782999ptv:SubsidiaryConvertibleNotesMember2024-01-012024-12-310001782999ptv:KnodeMemberptv:SubsidiaryConvertibleNotesMember2024-12-310001782999ptv:AppeeringMemberptv:SubsidiaryConvertibleNotesMember2024-12-310001782999ptv:SondeMemberptv:SubsidiaryConvertibleNotesMember2024-12-310001782999ifrs-full:OrdinarySharesMemberptv:EntregaMember2024-01-012024-12-310001782999ifrs-full:OrdinarySharesMemberptv:FollicaMember2024-01-012024-12-310001782999ifrs-full:OrdinarySharesMemberptv:EntregaMember2024-01-012024-06-300001782999ifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesMember2023-01-012023-12-310001782999ifrs-full:OrdinarySharesMemberptv:SeaportMember2024-12-310001782999ptv:SeaportMemberifrs-full:RestrictedShareUnitsMember2024-01-012024-12-310001782999ifrs-full:OrdinarySharesMemberptv:VedantaBiosciencesMember2022-01-012022-12-310001782999ifrs-full:OrdinarySharesMemberifrs-full:NoncontrollingInterestsMember2024-01-012024-12-310001782999srt:MinimumMember2024-01-012024-12-310001782999srt:MaximumMember2024-12-310001782999ifrs-full:NotLaterThanOneYearMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2024-12-310001782999ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-12-310001782999ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-12-310001782999ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2024-12-310001782999ifrs-full:LaterThanFiveYearsMember2024-12-310001782999ptv:LeaseAt6TideStreetMember2019-04-260001782999ptv:LeaseAt6TideStreetMember2019-04-262019-04-260001782999ptv:GelesisMember2019-06-260001782999ptv:GelesisMember2023-01-012023-12-310001782999ptv:AlloniaLLCMember2023-01-230001782999ptv:AlloniaLLCMember2023-01-232023-01-230001782999ptv:AlloniaLLCMember2024-02-290001782999ifrs-full:CarryingAmountMemberptv:SubsidiaryNotesPayableMember2024-12-310001782999ptv:WithinThreeMonthsMemberptv:SubsidiaryNotesPayableMember2024-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:SubsidiaryNotesPayableMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:SubsidiaryNotesPayableMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:TradeAndOtherPayablesMember2024-12-310001782999ptv:WithinThreeMonthsMemberptv:TradeAndOtherPayablesMember2024-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:TradeAndOtherPayablesMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:TradeAndOtherPayablesMember2024-12-310001782999ptv:TradeAndOtherPayablesMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:TaxesPayableMember2024-12-310001782999ptv:WithinThreeMonthsMemberptv:TaxesPayableMember2024-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:TaxesPayableMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:TaxesPayableMember2024-12-310001782999ptv:TaxesPayableMember2024-12-310001782999ptv:WithinThreeMonthsMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:SubsidiaryPreferredSharesMember2024-12-310001782999ptv:WithinThreeMonthsMember2024-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMember2024-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMember2024-12-310001782999ifrs-full:CarryingAmountMemberptv:SubsidiaryNotesPayableMember2023-12-310001782999ptv:WithinThreeMonthsMemberptv:SubsidiaryNotesPayableMember2023-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:SubsidiaryNotesPayableMember2023-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:SubsidiaryNotesPayableMember2023-12-310001782999ifrs-full:CarryingAmountMemberptv:TradeAndOtherPayablesMember2023-12-310001782999ptv:WithinThreeMonthsMemberptv:TradeAndOtherPayablesMember2023-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:TradeAndOtherPayablesMember2023-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:TradeAndOtherPayablesMember2023-12-310001782999ptv:TradeAndOtherPayablesMember2023-12-310001782999ptv:WithinThreeMonthsMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMemberptv:SubsidiaryPreferredSharesMember2023-12-310001782999ptv:WithinThreeMonthsMember2023-12-310001782999ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMember2023-12-310001782999ifrs-full:LaterThanOneYearAndNotLaterThanFiveYearsMember2023-12-310001782999ptv:SondeMember2024-12-310001782999ptv:SondeMember2023-12-310001782999ifrs-full:LegalProceedingsContingentLiabilityMember2024-12-310001782999ifrs-full:AssociatesMemberptv:GelesisMember2023-12-310001782999ifrs-full:AssociatesMemberptv:GelesisMember2023-01-012023-12-310001782999ifrs-full:RelatedPartiesMember2024-01-012024-12-310001782999ifrs-full:RelatedPartiesMember2023-01-012023-12-310001782999ifrs-full:RelatedPartiesMember2022-01-012022-12-310001782999ptv:ConvertibleNotesMemberptv:DirectorsAndSeniorManagersMember2024-12-310001782999ptv:ConvertibleNotesMemberptv:DirectorsAndSeniorManagersMember2024-01-012024-12-310001782999ptv:ConvertibleNotesMemberptv:DirectorsAndSeniorManagersMember2023-12-310001782999ifrs-full:OrdinarySharesMemberptv:EntregaMemberptv:DrRobertLangerMember2024-12-310001782999ptv:ClassBCommonMemberptv:EnlightMemberptv:DrRajuKucherlapatiMember2024-12-310001782999ptv:SeaportTherapeuticsMemberptv:DrRajuKucherlapatiMember2024-12-310001782999ifrs-full:OrdinarySharesMemberptv:AkiliMemberptv:DrJohnLaMattinaMember2024-12-310001782999ptv:SeaportTherapeuticsMemberptv:DrJohnLaMattinaMember2024-12-310001782999ptv:SeaportTherapeuticsMemberptv:MicheleHolcombMember2024-12-310001782999ptv:SeaportTherapeuticsMemberptv:SharonBarberLuiMember2024-12-310001782999ptv:SeaportTherapeuticsMemberptv:DrEricElenkoMember2024-12-310001782999ifrs-full:OrdinarySharesMemberptv:DirectorsAndSeniorManagersMember2024-12-310001782999ifrs-full:OrdinarySharesMemberptv:SeniorManagersMember2022-12-310001782999ifrs-full:OrdinarySharesMemberptv:SeniorManagersMember2024-12-310001782999ifrs-full:OrdinarySharesMemberptv:SeniorManagersMember2023-12-310001782999ifrs-full:OrdinarySharesMembersrt:DirectorMember2023-12-310001782999ifrs-full:OrdinarySharesMembersrt:DirectorMember2024-12-310001782999ifrs-full:AssociatesMember2024-12-310001782999ptv:FederalMember2024-01-012024-12-310001782999ptv:FederalMember2023-01-012023-12-310001782999ptv:FederalMember2022-01-012022-12-310001782999ptv:StateMember2024-01-012024-12-310001782999ptv:StateMember2023-01-012023-12-310001782999ptv:StateMember2022-01-012022-12-310001782999country:USifrs-full:UnusedTaxLossesMember2024-12-310001782999country:USifrs-full:UnusedTaxLossesMember2023-12-310001782999country:USifrs-full:UnusedTaxCreditsMember2024-12-310001782999country:USifrs-full:UnusedTaxCreditsMember2023-12-310001782999country:USptv:ShareBasedPaymentsMember2024-12-310001782999country:USptv:ShareBasedPaymentsMember2023-12-310001782999country:USptv:CapitalizedResearchAndExperimentalExpendituresMember2024-12-310001782999country:USptv:CapitalizedResearchAndExperimentalExpendituresMember2023-12-310001782999country:USifrs-full:LeaseLiabilitiesMember2024-12-310001782999country:USifrs-full:LeaseLiabilitiesMember2023-12-310001782999country:USptv:FutureRoyaltiesMember2024-12-310001782999country:USptv:FutureRoyaltiesMember2023-12-310001782999country:USifrs-full:OtherTemporaryDifferencesMember2024-12-310001782999country:USifrs-full:OtherTemporaryDifferencesMember2023-12-310001782999country:US2024-12-310001782999country:US2023-12-310001782999country:USptv:InvestmentsHeldAtFairValueMember2024-12-310001782999country:USptv:InvestmentsHeldAtFairValueMember2023-12-310001782999country:USifrs-full:RightofuseAssetsMember2024-12-310001782999country:USifrs-full:RightofuseAssetsMember2023-12-310001782999country:USifrs-full:PropertyPlantAndEquipmentMember2024-12-310001782999country:USifrs-full:PropertyPlantAndEquipmentMember2023-12-310001782999country:USptv:InvestmentInAssociatesMember2024-12-310001782999country:USptv:InvestmentInAssociatesMember2023-12-310001782999ptv:GrossAmountMember2024-12-310001782999ptv:TaxEffectedMember2024-12-310001782999ptv:GrossAmountMember2023-12-310001782999ptv:TaxEffectedMember2023-12-310001782999ptv:NotLaterThan10YearsMemberptv:GrossAmountMember2024-12-310001782999ptv:NotLaterThan10YearsMemberptv:TaxEffectedMember2024-12-310001782999ptv:NotLaterThan10YearsMemberptv:GrossAmountMember2023-12-310001782999ptv:NotLaterThan10YearsMemberptv:TaxEffectedMember2023-12-310001782999ifrs-full:LaterThanTenYearsMemberptv:GrossAmountMember2024-12-310001782999ifrs-full:LaterThanTenYearsMemberptv:TaxEffectedMember2024-12-310001782999ifrs-full:LaterThanTenYearsMemberptv:GrossAmountMember2023-12-310001782999ifrs-full:LaterThanTenYearsMemberptv:TaxEffectedMember2023-12-310001782999ptv:AvailableIndefinitelyMemberptv:GrossAmountMember2024-12-310001782999ptv:AvailableIndefinitelyMemberptv:TaxEffectedMember2024-12-310001782999ptv:AvailableIndefinitelyMemberptv:GrossAmountMember2023-12-310001782999ptv:AvailableIndefinitelyMemberptv:TaxEffectedMember2023-12-310001782999ptv:FederalMember2022-12-310001782999ptv:OperatingLossCarryforwardsNotSubjectToExpirationMemberptv:FederalMember2024-12-310001782999ptv:FederalMember2024-12-310001782999ptv:FederalMember2023-12-310001782999stpr:MA2024-12-310001782999stpr:MA2023-12-310001782999stpr:MA2022-12-31

WASHINGTON, D.C. 20549

(Mark One)

For the fiscal year ended December 31, 2024

Date of event requiring this shell company report

Commission file number 001-39670

(Exact name of registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

England and Wales

(Jurisdiction of incorporation or organization)

(Address of principal executive offices)

Bharatt Chowrira

Chief Executive Officer Tel: (617) 482-2333

E-mail: ir@puretechhealth.com

c/o PureTech Health LLC

(Name, telephone, e-mail and/or facsimile number and address of company contact person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: Ordinary Shares: 239,421,312 outstanding as of December 31, 2024.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files): Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

This annual report on Form 20-F contains forward-looking statements that involve substantial risks and uncertainties. All statements contained in this report, other than statements of historical fact, including statements regarding our and our Founded Entities' strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “would,” “could,” “should,” “continue” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this annual report on Form 20-F include, among other things, statements about:

•our ability to realize value from our Founded Entities, which may be impacted if we reduce our ownership to a minority interest or otherwise cede control to other investors through contractual agreements or otherwise;

•the success, cost and timing of our clinical development within our Wholly-Owned Programs and Founded Entities, including the progress of, and results from, our Wholly-Owned Programs' and Founded Entities' preclinical and clinical trials of deupirfenidone (LYT-100) and LYT-200, our technology platforms and other potential therapeutic candidates within our Wholly-Owned Programs and therapeutic candidates being developed by our Founded Entities;

•our ability to obtain and maintain regulatory clearance, certification, authorization or approval of the therapeutic candidates within our Wholly-Owned Programs or our Founded Entities, and any related restrictions, limitations or warnings in the label of any of the therapeutic candidates if cleared, certified, authorized or approved;

•our ability to compete with companies currently marketing or engaged in the development of treatments for indications within our Wholly-Owned Programs or our Founded Entities are designed to target;

•our plans to pursue research and development of other future therapeutic candidates;

•the potential advantages of the therapeutic candidates within our Wholly-Owned Programs and the therapeutic candidates being developed by our Founded Entities;

•the rate and degree of market acceptance and clinical utility of our therapeutic candidates;

•the success of our collaborations and partnerships with third parties;

•our estimates regarding the potential market opportunity for the therapeutic candidates within our Wholly-Owned Programs and the therapeutic candidates being developed by our Founded Entities;

•our sales, marketing and distribution capabilities and strategy;

•our ability to establish and maintain arrangements for manufacture of the therapeutic candidates within our Wholly-Owned Programs and therapeutic candidates being developed by our Founded Entities;

•our intellectual property position;

•our expectations related to the use of capital;

•our estimates regarding expenses, future revenues, capital requirements and needs for additional financing;

•the impact of government laws and regulations; and

•our competitive position.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements, which speak only as of the date made. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. You should refer to Item 3.D - "Risk Factors" of this annual report on Form 20-F for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may undertake. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. Except as may be required by law, we have no plans to update our forward-looking statements to reflect events or circumstances after the date of this annual report on Form 20-F. We qualify all of our forward-looking statements by these cautionary statements.

Additionally, certain information we may disclose (either herein or elsewhere) is informed by the expectations of various stakeholders or third-party frameworks and, as such, may not necessarily be material for purposes of our filings under U.S. federal securities laws, even if we use “material” or similar language in discussing such matters.

The risk factors described below are a summary of the principal risk factors associated with our business. These are not the only risks we face. You should carefully consider these risk factors, together with the risk factors incorporated by reference into Item 3.D – "Risk Factors". of this annual report on Form 20-F and the other reports and documents filed by us with the SEC.

•As of December 31, 2024, we had never generated revenue from the therapeutic candidates within our Wholly-Owned Programs, and we may never be operationally profitable.

•We may require substantial additional funding to achieve our business goals. If we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate certain of our therapeutic development efforts. Certain of our Founded Entities will similarly require substantial additional funding to achieve their business goals.

•Our ability to realize value from our Founded Entities may be impacted if we reduce our ownership or otherwise cede control to other investors through contractual agreements or otherwise.

•We have limited information about and limited control or influence over our Non-Controlled Founded Entities.

•The therapeutic candidates within our Wholly-Owned Programs and most of our Founded Entities’ therapeutic candidates are in preclinical or clinical development, which is a lengthy and expensive process with uncertain outcomes and the potential for substantial delays. We cannot give any assurance that any of our and our Founded Entities’ therapeutic candidates will receive regulatory clearance, authorization or approval, which is necessary before they can be commercialized.

•Preclinical development is uncertain. Our preclinical programs may experience delays or may never advance to clinical trials, which would adversely affect our ability to obtain regulatory clearance, authorization or approvals or commercialize these programs on a timely basis or at all, which would have an adverse effect on our business.

•Clinical trials of our or our Founded Entities’ therapeutic candidates may be delayed, and certain programs may never advance in the clinic or may be more costly to conduct than we anticipate, any of which can affect our ability to fund our company and would have a material adverse impact on our platform or our business.

•If we encounter difficulties enrolling patients in clinical trials, our clinical development activities could be delayed or otherwise adversely affected.

•Use of the therapeutic candidates within our Wholly-Owned Programs or the therapeutic candidates being developed by our Founded Entities could be associated with side effects, AEs or other properties or safety risks, which could delay or halt their clinical development, prevent their regulatory clearance, authorization or approval, cause us to suspend or discontinue clinical trials, abandon a therapeutic candidate, limit their commercial potential, if cleared, authorized or approved, or result in other significant negative consequences that could severely harm our business, prospects, operating results and financial condition.

•Our clinical trials may fail to demonstrate substantial evidence of the safety and effectiveness of therapeutic candidates that we may identify and pursue for their intended uses, which would prevent, delay or limit the scope of regulatory clearance, certification, authorization or approval and potential commercialization.

•Even if we complete the necessary preclinical studies and clinical trials, the marketing approval and certification process is expensive, time-consuming and uncertain and may prevent us from obtaining clearance, certification, authorization or approvals for the potential commercialization of therapeutic candidates.

•If we are unable to obtain regulatory clearance, certification, authorization or approval in one or more jurisdictions for any therapeutic candidates that we may identify and develop, our business could be substantially harmed.

•Certain of the therapeutic candidates being developed by us or our Founded Entities are novel, complex and difficult to manufacture. We could experience manufacturing problems that result in delays in our development or commercialization programs or otherwise harm our business.

•If, in the future, we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market any therapeutic candidates we may develop, we may not be successful in commercializing those therapeutic candidates if and when they are approved.

•If we fail to comply with healthcare laws, we could face substantial penalties and our business, operations and financial conditions could be adversely affected.

•We face significant competition in an environment of rapid technological and scientific change, and there is a possibility that our competitors may achieve regulatory approval before us or develop therapies that are safer, more advanced or more effective than ours, which may negatively impact our ability to successfully market or commercialize any therapeutic candidates we may develop and ultimately harm our financial condition.

•We are currently party to and may seek to enter into additional collaborations, licenses and other similar arrangements and may not be successful in maintaining existing arrangements or entering into new ones, and even if we are, we may not realize the benefits of such relationships, which could cause us to expend significant resources and give rise to substantial business risk with no assurance of financial return.

•We rely on third parties to assist in conducting our clinical trials and some aspects of our research and preclinical testing, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials, research, or testing.

•If we or our Founded Entities are unable to obtain and maintain sufficient intellectual property protection for our or our Founded Entities’ existing therapeutic candidates or any other therapeutic candidates that we or they may identify, or if the scope of the intellectual property protection we or they currently have or obtain in the future is not sufficiently broad, our competitors could develop and commercialize therapeutic candidates similar or identical to ours, and our ability to successfully commercialize our existing therapeutic candidates and any other therapeutic candidates that we or they may pursue may be impaired.

•We may not be able to protect our intellectual property rights throughout the world.

•Our or our Founded Entities’ proprietary rights may not adequately protect our technologies and therapeutic candidates, and do not necessarily address all potential threats to our competitive advantage.

•The failure to maintain our licenses and realize their benefits may harm our business.

•If we or our Founded Entities fail to comply with our obligations in the agreements under which we license intellectual property rights from third parties or these agreements are terminated or we or our Founded Entities otherwise experience disruptions to our business relationships with our licensors, we could lose intellectual property rights that are important to our business.

•Patent terms may be inadequate to protect our competitive position on therapeutic candidates for an adequate amount of time.

•Issued patents covering our Wholly-Owned Programs or our Founded Entities' therapeutics candidates could be found invalid or unenforceable if challenged in courts or patent offices.

•If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business would be harmed.

•We and our Founded Entities may be subject to claims challenging the inventorship of our patents and other intellectual property.

•Failures in one or more of our programs could adversely impact other programs and have a material adverse impact on our business, results of operations and ability to fund our business.

•Our business is highly dependent on the clinical advancement of our programs and our success in identifying potential therapeutic candidates. Delay or failure to advance our programs could adversely impact our business.

•Our future success depends on our ability to retain key employees, directors, consultants and advisors and to attract, retain and motivate qualified personnel.

•The market price of our ADSs has been and will likely continue to be highly volatile, and you could lose all or part of your investment.

•Holders of ADSs are not treated as holders of our ordinary shares.

•As a foreign private issuer, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq corporate governance listing standards. These practices may afford less protection to shareholders than they would enjoy if we complied fully with corporate governance listing standards.

•If we are unable to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, shareholders could lose confidence in our financial and other public reporting, which would harm our business and the trading price of our ADSs.

Pursuant to Rule 12b-23(a) of the Securities Exchange Act of 1934, as amended, the information required in this annual report on Form 20-F for the fiscal year ended December 31, 2024 (this "annual report on Form 20-F") of PureTech Health plc (the “Company”) set out below is being incorporated by reference from PureTech’s “Annual Report and Accounts 2024”, portions of which are included as exhibit 15.1 to this annual report on Form 20-F. Only the information set out below with specific reference to items and pages of PureTech's "Annual Report and Accounts 2024" is deemed to be filed as part of this annual report on Form 20-F. Other information contained within PureTech's "Annual Report and Accounts 2024" that is not specified, including graphs and tabular data, is not included in this annual report on Form 20-F and is not deemed to be filed as part of this annual report on Form 20-F. Photographs are also not included. References herein to PureTech's websites are textual references only and information on or accessible through such websites does not form part of and is not incorporated into this annual report on Form 20-F.

References below to major headings include all information under such major headings, including subheadings, unless such reference is a reference to a subheading, in which case such reference includes only the information contained under such subheading. Unless the context otherwise requires, “PureTech” and “PureTech Health” refer to the Company, which is comprised of PureTech and its subsidiaries (together, the “Group”).

A. [Reserved]

The information (including tabular data) set forth or referenced under the heading “Risk Factor Annex" on pages 182 to 219 of PureTech’s “Annual Report and Accounts 2024” included as exhibit 15.1 to this annual report on Form 20-F is incorporated by reference.

The information set forth under the heading "History and Development of the Company" on page 181 of PureTech’s “Annual Report and Accounts 2024” included as exhibit 15.1 to this annual report on Form 20-F is incorporated by reference.

For a description of our principal capital expenditures and divestitures for the three years ended December 31, 2024 and for those currently in progress, see Item 5. “Operating and Financial Review and Prospects—A. Operating Results”.

The United States Securities and Exchange Commission (the “SEC”) maintains an internet website that contains reports, proxy and information statements, and other information regarding issuers, like us, that file electronically with the SEC. The address of that website is www.sec.gov. We also maintain an Internet website at www.puretechhealth.com. The information contained on, or that may be accessed through, our website is not part of, and is not incorporated into, annual report on Form 20-F.

The information (including graphs and tabular data) set forth under the following headings is incorporated by reference herein: “Highlights of the Year—2024” (for the years of 2022, 2023 and 2024) on page 1, “Our Diversified Hub-and-Spoke Model” on page 10, "Programs" on pages 11 to 13, “ESG Report— Patients-Ensuring Drug Efficacy and Safety” on page 33, “Risk Management—Risks related to regulatory approval" on page 61 and "Risk Management—Risks related to intellectual property protection" on page 63, “Financial Review—Revenue” on page 70, in each case of PureTech's "Annual Report and Accounts 2024" included as exhibit 15.1 to this annual report on Form 20-F; and “Consolidated Statement of Comprehensive Income/(Loss),” “Notes to the Consolidated Financial Statements—Note 3. Revenue” and “Notes to the Consolidated Financial Statements—Note 4. Segment Information,” in each case of our audited consolidated financial statements included elsewhere in this annual report on Form 20-F. Seasonality does not materially impact the Company's main business.

The biotechnology and pharmaceutical industries utilize rapidly advancing technologies and are characterized by intense competition. There is also a strong emphasis on intellectual property and proprietary products. Our pipeline builds on validated biology of known therapeutics while applying unique inventive steps that improve the clinical pharmacology. We further de-risk programs with key experiments at an early stage to validate the underlying value proposition. We believe that our technology, drug discovery and development expertise and capabilities enable such strong pipeline creation and provide us with a competitive advantage. However, we will continue to face competition from different sources including major pharmaceutical companies, biotechnology companies, academic institutions, government agencies, and public and private research institutions. In addition, there are many companies that have approved therapeutics for some of our target indications. For any products that we eventually commercialize, we will not only compete with existing therapies but also compete with new therapies that may become available in the future.

In addition to the competition we will face from the parties described above, we face competition for certain of the product candidates we are developing internally as well as the products we are advancing through our Founded Entities.

In the field of idiopathic pulmonary fibrosis (IPF), there are two approved drugs, pirfenidone (Esbriet), marketed by Roche, and nintedanib (Ofev), marketed by Boehringer Ingelheim. These drugs have unfavorable tolerability profiles, leading to sustained unmet need for novel therapies. In May 2022, a generic version of pirfenidone was approved in the US. Generic pirfenidone is also starting to be prescribed in some EU countries. Other potential competitive product candidates in various stages of development include, but are not limited to: United Therapeutics’ treprostinil in Phase 3 clinical trials, Boehringer Ingelheim’s BI1015550 in Phase 3 development, BMS’ BMS-986278 in Phase 3 clinical development, Avalyn’s AP01 which is expected to enter a Phase 2 or 3 trial , Pliant Therapeutics’ PLN-74809 in Phase 2 clinical development, and Horizon Therapeutics’ HZN-825 in Phase 2 clinical development.

We are aware of one current drug product candidate targeting galectin-9, FibroGen’s FG-3165, which FibroGen has disclosed that they are anticipating submitting an Investigational New Drug Application, or IND, for in the first quarter of 2024. Additionally, if we are successful in developing LYT-200 as an immuno-oncology (IO) treatment we would expect to compete with currently approved IO therapies and those that may be developed in the future. Current marketed IO products include CTLA-4, such as BMS’ Yervoy, and PD-1/PD-L1, such as BMS’ Opdivo, Merck’s Keytruda and Genentech’s Tecentriq, and T cell engager immunotherapies, such as Amgen’s Blincyto. In addition, there are other academic groups and/or companies that may be involved in pre-clinical research centered around galectin-9 as a therapeutic target.

Government Regulation

Government authorities in the United States, at the federal, state and local level, and in other countries and jurisdictions, including the European Union, or EU, extensively regulate, among other things, the research, development, testing, manufacture, quality control, approval, packaging, storage, recordkeeping, labeling, advertising, promotion, distribution, marketing, post-approval monitoring and reporting, and import and export of drugs, biological products and medical devices. The processes for obtaining regulatory approvals in the United States and in foreign countries and jurisdictions, along with subsequent compliance with applicable statutes and regulations, require the expenditure of substantial time and financial resources.

In the United States, the FDA regulates drugs under the FDCA, and its implementing regulations, and biologics under the FDCA and the Public Health Service Act and its implementing regulations. FDA approval is required before any new unapproved drug or dosage form, including a new use of a previously approved drug, can be marketed in the United States. Drugs and biologics are also subject to other federal, state, and local statutes and regulations. The process required by the FDA before such product candidates may be marketed in the United States generally involves the following:

•completion of extensive preclinical laboratory tests and preclinical animal studies, certain of which must be performed in accordance with Good Laboratory Practice, or GLP, regulations and other applicable regulations;

•submission to the FDA of an IND, which must become effective before human clinical studies may begin;

•approval by an independent institutional review board, or IRB, or ethics committee representing each clinical site before each clinical study may be initiated;

•performance of adequate and well-controlled human clinical studies in accordance with Good Clinical Practice, or GCP, requirements to establish the safety and efficacy, or with respect to biologics, the safety, purity and potency of the product candidate for each proposed indication;

•preparation of and submission to the FDA of a new drug application, or NDA, or biologics license application, or BLA, after completion of all pivotal clinical studies;

•potential review of the product application by an FDA advisory committee, where appropriate and if applicable;

•a determination by the FDA within 60 days of its receipt of an NDA or BLA to file the application for review;

•satisfactory completion of an FDA pre-approval inspection of the manufacturing facilities where the proposed product drug substance is produced to assess compliance with current Good Manufacturing Practices, or cGMP, and potential audits of selected clinical trial sites to ensure compliance with GCP; and

•FDA review and approval of an NDA or BLA prior to any commercial marketing or sale of the drug in the United States.

An IND is a request for allowance from the FDA to administer an investigational drug product to humans. The central focus of an IND submission is on the general investigational plan and the protocol or protocols for preclinical studies and clinical trials. The IND also includes results of animal and in vitro studies assessing the toxicology, pharmacokinetics, pharmacology and pharmacodynamics of the product, chemistry, manufacturing and controls, or CMC, information, and any available human data or literature to support the use of the investigational product. An IND must become effective before human clinical trials may begin. The IND automatically becomes effective 30 days after receipt by the FDA, unless the FDA, within the 30-day period, raises safety concerns or questions about the proposed clinical trial. In such a case, the IND may be placed on clinical hold and the IND sponsor and the FDA must resolve any outstanding concerns or questions before the clinical trial can begin. Submission of an IND therefore may or may not result in FDA authorization to begin a clinical trial.

Clinical trials involve the administration of the investigational product to human subjects under the supervision of qualified investigators in accordance with GCP, which includes, among other things, the requirement that all research subjects provide their informed consent for their participation in any clinical study. Clinical trials are conducted under protocols detailing, among other things, the objectives of the study, the parameters to be used in monitoring safety and the effectiveness criteria to be evaluated. A separate submission to the existing IND must be made for each successive clinical trial conducted during product development and for any subsequent protocol amendments. While the IND is active, progress reports summarizing the results of the clinical trials and nonclinical studies performed since the last progress report, among other information, must be submitted at least annually to the FDA, and written IND safety reports must be submitted to the FDA and investigators for serious and unexpected suspected adverse events, findings from other studies suggesting a significant risk to humans exposed to the drug, findings from animal or in vitro testing suggesting a significant risk to humans exposed to the drug, and any clinically important increased rate of a serious suspected adverse reaction compared to that listed in the protocol or investigator brochure.

Furthermore, an independent IRB for each site proposing to conduct the clinical trial must review and approve the plan for any clinical trial and its informed consent form before the clinical trial begins at that site, and must monitor the study until completed. Regulatory authorities, the IRB or the sponsor may suspend a clinical trial at any time on various grounds, including a finding that the subjects are being exposed to an unacceptable health risk or that the trial is unlikely to meet its stated objectives. Some studies also include oversight by an independent group of qualified experts organized by the clinical study sponsor, known as a data safety monitoring board, which provides authorization for whether or not a study may move forward at designated check points based on access to certain data from the study and may halt the clinical trial if it determines that there is an unacceptable safety risk for subjects or other grounds, such as no demonstration of efficacy. There are also requirements governing the reporting of ongoing preclinical studies and clinical trials and clinical study results to public registries.

The clinical investigation of a drug is generally divided into three phases. Although the phases are usually conducted sequentially, they may overlap or be combined.

•Phase 1. The investigational product is initially introduced into healthy human subjects or patients with the target disease or condition. These studies are generally designed to test the safety, dosage tolerance, absorption, metabolism and distribution of the investigational product in humans, the side effects associated with increasing doses, and, if possible, to gain early evidence on effectiveness.

•Phase 2. The investigational product is administered to a limited patient population with a specified disease or condition to evaluate the preliminary efficacy, optimal dosages and dosing schedule and to identify possible adverse side effects and safety risks.

•Phase 3. The investigational product is administered to an expanded patient population to further evaluate dosage, to provide statistically significant evidence of clinical efficacy and to further test for safety, generally at multiple geographically dispersed clinical trial sites. These clinical trials are intended to establish the overall risk/benefit ratio of the investigational product and to provide an adequate basis for product approval.

In some cases, the FDA may condition approval of an NDA or BLA for a product candidate on the sponsor’s agreement to conduct additional clinical studies after approval. In other cases, a sponsor may voluntarily conduct additional clinical studies after approval to gain more information about the drug within the approved indication. Such post-approval studies are often referred to as Phase 4 clinical studies.

Concurrent with clinical trials, companies may complete additional animal studies and develop additional information about the biological characteristics of the product candidate, and must finalize a process for manufacturing the product in commercial quantities in accordance with cGMP requirements. The manufacturing process must be capable of consistently producing quality batches of the product candidate and, among other things, must develop methods for testing the identity, strength, quality and purity of the final product, or for biologics, the safety, purity and potency.

The special protocol assessment, or SPA, process is designed to facilitate the FDA’s review and approval of certain drugs and biologics by allowing the FDA to evaluate the proposed design of certain preclinical studies and clinical trials, including among others, trials that are intended to form the primary basis for determining a product candidate’s efficacy. Upon specific request by a clinical trial sponsor, the FDA aims to evaluate the protocol and respond to a sponsor’s questions regarding, among other things, entry, criteria, dose selection, endpoints, trial conduct and data analyses, within 45 days of receipt of the request. The FDA ultimately assesses whether the protocol design and planned analysis of the trial are acceptable to support regulatory approval of the product candidate with respect to effectiveness of the indication studied. All agreements and disagreements between the FDA and the sponsor regarding an SPA must be clearly documented in an SPA letter or the minutes of a meeting between the sponsor and the FDA.

Even if the FDA agrees to the design, execution and analyses proposed in protocols reviewed under the SPA process, the FDA may rescind or alter its agreement where the FDA determines that a substantial scientific issue essential to determining the safety or efficacy of the product candidate has been identified after the trial has begun, which can include, but is not limited to, the following circumstances:

•identification of data that would call into question the clinical relevance of previously agreed-upon efficacy endpoints;

•identification of safety concerns related to the product or its pharmacological class;

•paradigm shifts in disease diagnosis or management recognized by the scientific community and the FDA; or

•the relevant data, assumptions, or information provided by the sponsor in the SPA submission are found to be false statements or misstatements, or are found to omit relevant facts, such that the clinical relevance of critical components of trial design is called into question, or appropriate safety monitoring and human subject protection are affected.

A documented SPA may be modified, and such modification will be deemed binding on the FDA review division, except under the circumstances described above, if the FDA and the sponsor agree in writing to modify the protocol and such modification is intended to improve the study. If the sponsor fails to follow the protocol that was agreed upon with FDA consistent with the SPA agreement, or makes substantive changes in the protocol without the FDA’s agreement, then FDA will consider the results from the study as a BLA or NDA review issue. The FDA will not be bound by an SPA agreement where the sponsor fails to conduct the trial in accordance with the agreed SPA.

Assuming successful completion of all required testing in accordance with all applicable regulatory requirements, the results of product development, including, among other things, the results from nonclinical studies and clinical trials are submitted to the FDA as part of an NDA or BLA requesting approval to market the product for one or more indications. The NDA or BLA must include all relevant data available from pertinent preclinical studies and clinical trials, including negative or ambiguous results as well as positive findings, together with detailed information relating to the product’s CMC and proposed labeling, among other things. Data can come from company-sponsored clinical studies intended to test the safety and effectiveness of the product, or from a number of alternative sources, including studies initiated and sponsored by investigators. The submission of an NDA or BLA requires payment of a substantial application user fee to the FDA, unless a waiver or exemption applies.

In addition, under the Pediatric Research Equity Act, or PREA, an NDA or BLA or supplement to an NDA or BLA must contain data to assess the safety and effectiveness of the biological product candidate for the claimed indications in all relevant pediatric subpopulations and to support dosing and administration for each pediatric subpopulation for which the product is safe and effective. The FDA requires that a sponsor who is planning to submit a marketing application for a drug or biological product that includes a new active ingredient, new indication, new dosage form, new dosing regimen or new route of administration submit an initial pediatric study plan within sixty days after an end-of-Phase 2 meeting or as may be agreed between the sponsor and FDA. Unless otherwise required by regulation, PREA does not apply to any product candidate for an indication for which orphan designation has been granted.

Within 60 days following submission of the application, the FDA reviews the submitted BLA or NDA to determine if the application is substantially complete before the FDA accepts it for filing. The FDA may refuse to file any NDA or BLA that it deems incomplete or not properly reviewable at the time of submission and may request additional information. In this event, the NDA or BLA must be resubmitted with the additional information. Once an NDA or BLA has been accepted for filing, the FDA’s goal is to review applications for original biologics or new-molecular-entity drugs within ten months after the filing date, or, if the application qualifies for priority review, six months after the filing date. In both standard and priority reviews, the review process may also be extended for a three-month period for the FDA to review additional information that is deemed a major amendment to an application.

The FDA reviews an NDA to determine, among other things, whether a product is safe and effective for its intended use and whether its manufacturing is sufficient to assure and preserve the product’s identity, strength, quality and purity. The FDA reviews a BLA to determine, among other things, whether a product is safe, pure and potent and the facility in which it is manufactured, processed, packed or held meets standards designed to assure the product’s continued safety, purity and potency. When reviewing an NDA or BLA, the FDA may convene an advisory committee to provide clinical insight on application review questions. The FDA is not bound by the recommendations of an advisory committee, but it considers such recommendations carefully when making decisions.

Before approving an NDA or BLA, the FDA will typically inspect the facility or facilities where the product is manufactured. The FDA will not approve an application unless it determines that the manufacturing processes and facilities are in compliance with cGMP requirements and adequate to assure consistent production of the product within required specifications.

Additionally, before approving an NDA or BLA, the FDA will typically inspect one or more clinical sites to assure compliance with GCP.

After the FDA evaluates the NDA or BLA and conducts inspections of manufacturing facilities where the investigational product and/or its drug substance will be produced, the FDA may issue an approval letter or a Complete Response letter. An approval letter authorizes commercial marketing of the product with specific prescribing information for specific indications. A Complete Response letter will describe all of the deficiencies that the FDA has identified in the NDA or BLA, except that where the FDA determines that the data supporting the application are inadequate to support approval, the FDA may issue the Complete Response letter without first conducting required inspections, testing submitted product lots and/or reviewing proposed labeling. In issuing the Complete Response letter, the FDA may recommend actions that the applicant might take to place a resubmitted NDA or BLA in condition for approval, including requests for additional clinical studies, or other information supporting the application. Notwithstanding the submission of any additional information or data, the FDA may delay or refuse approval of an NDA or BLA if applicable regulatory criteria are not satisfied.

If the FDA approves a BLA or NDA, such approval will be granted for particular indications and may entail limitations on the indicated uses for which such product may be marketed. For example, the FDA may approve the NDA or BLA with a Risk Evaluation and Mitigation Strategy, or REMS, to ensure the benefits of the product outweigh its risks. A REMS is a safety strategy to manage a known or potential serious risk associated with a product and to enable patients to have continued access to such medicines by managing their safe use, and could include medication guides, physician communication plans, or elements to assure safe use, such as restricted distribution methods, patient registries and other risk minimization tools. The FDA also may condition approval on, among other things, changes to proposed labeling or the development of adequate controls and specifications. Once approved, the FDA may withdraw the product approval if compliance with pre- and post-marketing requirements is not maintained or if problems occur after the product reaches the marketplace. The FDA may require one or more post-market studies and surveillance to further assess and monitor the product’s safety and effectiveness after commercialization, and may limit further marketing of the product based on the results of these post-marketing studies.

Certain therapeutic products are comprised of multiple components, such as drug or biologic components and device components, that would normally be subject to different regulatory frameworks by the FDA and frequently regulated by different centers at the FDA. These products are known as combination products. Under the FDCA, the FDA is charged with assigning a center with primary jurisdiction, or a lead center, for review of a combination product. The determination of which center will be the lead center is based on the “primary mode of action” of the combination product. Thus, if the primary mode of action of a drug-device combination product is attributable to the drug product, the FDA center responsible for premarket review of the drug product would have primary jurisdiction for the combination product. The FDA has also established the Office of Combination Products to address issues surrounding combination products and provide more certainty to the regulatory review process. That office serves as a focal point for combination product issues for agency reviewers and industry. It is also responsible for developing guidance and regulations to clarify the regulation of combination products, and for assignment of the FDA center that has primary jurisdiction for review of combination products where the jurisdiction is unclear or in dispute. A combination product with a primary mode of action attributable to the drug or biologic component generally would be reviewed and approved pursuant to the drug approval processes set forth in the FDCA. In reviewing the NDA or BLA for such a product, however, FDA reviewers would consult with their counterparts in the FDA’s Center for Devices and Radiological Health to ensure that the device component of the combination product met applicable requirements regarding safety, effectiveness, durability and performance. In addition, under FDA regulations, combination products are subject to cGMP requirements applicable to both drugs and devices, including the Quality System Regulation, or QSR, currently applicable to medical devices.

The FDA offers a number of expedited development and review programs for qualifying product candidates. The fast track program is intended to expedite or facilitate the process for reviewing product candidates that meet certain criteria. Specifically, product candidates are eligible for fast track designation if they are intended to treat a serious or life-threatening disease or condition and demonstrate the potential to address unmet medical needs for the disease or condition. Fast track designation applies to the combination of the product candidate and the specific indication for which it is being studied. The sponsor of a fast track product candidate has opportunities for more frequent interactions with the review team during product development and, once an NDA or BLA is submitted, the application may be eligible for priority review. A fast track product candidate may also be eligible for rolling review, where the FDA may consider for review sections of the NDA or BLA on a rolling basis before the complete application is submitted, if the sponsor provides a schedule for the submission of the sections of the NDA or BLA, the FDA agrees to accept sections of the NDA or BLA and determines that the schedule is acceptable, and the sponsor pays any required user fees upon submission of the first section of the NDA or BLA.

A product candidate intended to treat a serious or life-threatening disease or condition may also be eligible for breakthrough therapy designation to expedite its development and review. A product candidate can receive breakthrough therapy designation if preliminary clinical evidence indicates that the product candidate, alone or in combination with one or more other drugs or biologics, may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints, such as substantial treatment effects observed early in clinical development. The designation includes all of the fast track program features, as well as more intensive FDA interaction and guidance beginning as early as Phase 1 and an organizational commitment to expedite the development and review of the product candidate, including involvement of senior managers.

Any marketing application for a drug or biologic submitted to the FDA for approval, including a product candidate with a fast track designation and/or breakthrough therapy designation, may be eligible for other types of FDA programs intended to expedite the FDA review and approval process, such as priority review. An NDA or BLA is eligible for priority review if the product candidate has the potential to provide a significant improvement in the treatment, diagnosis or prevention of a serious disease or condition. For new-molecular-entity NDAs and original BLAs, priority review designation means the FDA’s goal is to take action on the marketing application within six months of the 60-day filing date (as compared to ten months under standard review).

Additionally, depending on the designs of the applicable clinical trials, product candidates studied for their safety and effectiveness in treating serious or life-threatening diseases or conditions may receive accelerated approval upon a determination that the product candidate has an effect on a surrogate endpoint that is reasonably likely to predict clinical benefit, or on a clinical endpoint that can be measured earlier than irreversible morbidity or mortality, that is reasonably likely to predict an effect on irreversible morbidity or mortality or other clinical benefit, taking into account the severity, rarity, or prevalence of the condition and the availability or lack of alternative treatments. As a condition of accelerated approval, the FDA will generally require the sponsor to perform adequate and well-controlled confirmatory clinical studies to verify and describe the anticipated effect on irreversible morbidity or mortality or other clinical benefit and may require such confirmatory studies be underway prior to granting accelerated approval. Products receiving accelerated approval may be subject to expedited withdrawal procedures if the sponsor fails to conduct the required confirmatory studies in a timely manner or if such studies fail to verify the predicted clinical benefit. In addition, the FDA currently requires as a condition for accelerated approval pre-approval of promotional materials, which could adversely impact the timing of the commercial launch of the product.

Fast track designation, breakthrough therapy designation, priority review, and accelerated approval do not change the standards for approval but may expedite the development or approval process. Even if a product qualifies for one or more of these programs, the FDA may later decide that the product no longer meets the conditions for qualification or decide that the time period for FDA review or approval will not be shortened. We may explore some of these opportunities for our product candidates as appropriate.

In 2012, the U.S. Congress authorized the FDA to award priority review vouchers to Sponsors of certain rare pediatric disease product applications. This program is designed to encourage development of new drug and biological products for prevention and treatment of certain rare pediatric diseases. Specifically, under this program, a sponsor who receives an approval for a drug or biologic for a “rare pediatric disease” may qualify for a voucher that can be redeemed to receive priority review of a subsequent marketing application for a different product. The Sponsor of a rare pediatric disease drug product receiving a priority review voucher may transfer (including by sale) the voucher to another sponsor. The voucher may be further transferred any number of times before the voucher is used, as long as the Sponsor making the transfer has not yet submitted the application. The FDA may also revoke any priority review voucher if the rare pediatric disease drug for which the voucher was awarded is not marketed in the U.S. within one year following the date of approval.

For purposes of this program, a “rare pediatric disease” is a (a) serious or life-threatening disease in which the serious or life-threatening manifestations primarily affect individuals aged from birth to 18 years, including age groups often called neonates, infants, children, and adolescents; and (b) rare diseases or conditions within the meaning of the Orphan Drug Act. Under the current statutory sunset provisions, after December 20, 2024, FDA may only award a voucher for an approved rare pediatric disease product application if the Sponsor has rare pediatric disease designation for the drug, and that designation was granted by December 20, 2024. After September 30, 2026, FDA may not award any Rare Pediatric Disease Priority Review Voucher.

Under the Orphan Drug Act, the FDA may grant orphan designation to a drug or biologic intended to treat a rare disease or condition, which is a disease or condition that affects fewer than 200,000 individuals in the United States, or more than 200,000 individuals in the United States for which there is no reasonable expectation that the cost of developing and making available in the United States a drug or biologic for this type of disease or condition will be recovered from sales in the United States for that drug or biologic. Orphan drug designation must be requested before submitting an NDA or BLA. After the FDA grants orphan drug designation, the generic identity of the therapeutic agent and its potential orphan use are disclosed publicly by the FDA. The orphan drug designation does not convey any advantage in, or shorten the duration of, the regulatory review or approval process.

If a product that has orphan drug designation subsequently receives the first FDA approval for the disease or condition for which it has such designation, the product is entitled to orphan drug exclusive approval (or exclusivity), which means that the FDA may not approve any other applications, including a full NDA or BLA, to market the same drug or biologic for the same disease or condition for seven years, except in limited circumstances, such as a showing of clinical superiority to the product with orphan drug exclusivity or if the FDA finds that the holder of the orphan drug exclusivity has not shown that it can assure the availability of sufficient quantities of the orphan drug to meet the needs of patients with the disease or condition for which the drug or biologic was designated. Orphan drug exclusivity does not prevent the FDA from approving a different drug or biologic for the same disease or condition, or the same drug or biologic for a different disease or condition. Among the other benefits of orphan drug designation are tax credits for certain research and a waiver of the NDA or BLA application user fee.

A designated orphan drug may not receive orphan drug exclusivity if it is approved for a use that is broader than the disease or condition for which it received orphan designation. In addition, exclusive marketing rights in the United States may be lost if the FDA later determines that the request for designation was materially defective or if the manufacturer is unable to assure sufficient quantities of the product to meet the needs of patients with the rare disease or condition.

Any products manufactured or distributed pursuant to FDA approvals are subject to pervasive and continuing regulation by the FDA, including, among other things, requirements relating to record-keeping, reporting of adverse experiences, periodic reporting, product sampling and distribution, and advertising and promotion of the product. After approval, most changes to the approved product, such as adding new indications or other labeling claims, are subject to prior FDA review and approval. There also are continuing user fee requirements, under which the FDA assesses an annual program fee for each product identified in an approved NDA or BLA. Drug and biologic manufacturers and their subcontractors are required to register their establishments with the FDA and certain state agencies, and are subject to periodic unannounced inspections by the FDA and certain state agencies for compliance with cGMPs, which impose certain procedural and documentation requirements upon NDA or BLA holders and any third-party manufacturers. Changes to the manufacturing process are strictly regulated, and, depending on the significance of the change, may require prior FDA approval before being implemented. FDA regulations also require investigation and correction of any deviations from cGMPs and impose reporting requirements upon us and any third-party manufacturers that we may decide to use.