resTORbio has raised $40m in an oversubscribed equity raise, bringing the total raised by the company to $65m in 2017. resTORbio will use the funds to progress its lead inhibitor of TORC1 through the ongoing Phase IIb and into Phase III as well as expand into other indications. The Phase IIb trial commenced in May 2017 with top line results expected in H2 2018. PureTech’s ownership following the financing, on a diluted basis, of resTORbio is 44.2%. We remain at Buy and look forward to the data in H2 2018.