PureTech Health PLC - London-listed Biotech company headquartered in Boston - Says Tuesday that founded entity, Ankili Inc, a game developer focusing on improving mental health, will merge with Virtual Therapeutics Corp, a Boston-based digital therapeutics company. As of May 7, PureTech owned over 12.5 million of Ankili common stock.

Akili shareholders will receive USD0.4340 per share, a 4% premium on Ankili's May 28 closing price. The transaction is expected to close in the third quarter 2024.

Virtual Therapeutics CEO Dan Elenbaas said the merger will create a leader in the digital mental healthcare industry: "Together, we can build a company that brings these behavioural services to as many patients as possible - regardless of where they are or barriers that exist for them today."

Current share price: 228.50 pence

12-month change: up 0.7%

By Aidan Lane, Alliance News reporter

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