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PRTC

Puretech Health PLC

Health Care First-pass screen £311m
320/1000 Overall fit
AI beneficiary 35% 20
Operating leverage 25% 35
Valuation 25% 30
Downside protection 15% 55

First-pass take

Clinical-stage biotech with zero AI revenue; uses AI only for internal drug discovery. Portfolio entirely speculative—three programs (Celea's deupirfenidone for IPF, Gallop's LYT-200 for myeloid, Seaport's neuropsych) depend on external fundraising and clinical trial success. $277m cash funds operations through 2028 but provides minimal downside protection given binary outcomes.

Flags

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