PureTech’s next big step could be merger with cash-rich Nektar

Years into its evolution beyond its affiliate model, PureTech is mulling a deal with Nektar that would deepen its commitment to developing a pipeline of its own, creating a well-funded company with five clinical assets spanning multiple immunology and oncology indications.

PureTech Health plc (LSE:PRTC; NASDAQ:PRTC) disclosed late Thursday that it has discussed a deal in which Nektar Therapeutics (NASDAQ:NKTR) would acquire the biotech. The companies have exchanged non-binding proposals, and conversations remain ongoing; it’s not yet clear who would lead the combined organization...