Jade Biosciences Reverse Merges with Aerovate Therapeutics to Advance Standard of Care for Autoimmune Diseases
Shots:
- The reverse merger will form a combined entity that will trade as Jade on Nasdaq under the ticker ‘JBIO’, with the premerger Aerovate stockholders getting ~1.6% & premerger Jade stockholders owning ~98.4% of it. Aerovate will not fund the combined entity & will pay ~$65M to its premerger stockholders before closing (expected in H1’25)
- In support of the merger, Jade gained commitments for an oversubscribed private investment expected to yield ~$300M from healthcare investors that will fund the combined entity’s operations through 2027
- The combined entity will advance JADE-001 (anti-APRIL mAb) into clinical PoC for IgAN during H2’25, with initial readout in H1’26. Jade has also begun preclinical studies of JADE-002 & JADE-003
Ref: Aerovate Therapeutics | Image: Aerovate Therapeutics & Jade Biosciences
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
