On October 11, 2022 PureTech reported that it has mutually agreed with Nektar to terminate discussions regarding a possible business combination (Press release, PureTech Health, OCT 11, 2022, View Source [SID1234621882]).

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Discussions with Nektar were announced on 7 October 2022, as required by Rule 2 of the UK City Code on Takeovers and Mergers (the "Code"), in response to media speculation. These discussions were early in nature and the required announcement created the impression that discussions were more advanced than they were. Given the early stage of the discussions and the potential for an extended period of uncertainty, these discussions were terminated.

This announcement has been made with the consent of Nektar.

Notwithstanding the termination of discussions, PureTech remains in an "offer period" until the expiration of the period set out in the announcement made on 7 October 2022 for Nektar either to announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case such announcement will be treated as a statement to which Rule 2.8 of the Code applies.