APRINOIA Therapeutics to go Public via Ross Acquisition Corp II SPAC Merger for ~$319.6M
Shots:
- The combined company will have a pro forma enterprise value of ~$319.6M. APRINOIA will receive $280M in equity value, $7.5M from an affiliate of Ross and $5M from other investors incl. ~$350.6M in ROSS's trust account. The transaction is expected to be completed in H1’23
- APRINOIA's existing shareholders will hold b/w 42% & 74% of the combined company based on the level of redemptions by ROSS shareholders. APRINOIA & ROSS will become a wholly owned subsidiary of the combined company, APRINOIA Therapeutics & the combined company is expected to be traded on Nasdaq or NYSE
- APRINOIA focused on developing a pipeline of highly specific CNS diagnostics & therapeutics, incl. APN-1607 & APN-005 for neurodegenerative disease. APN-1607 is in the P-II trial for AD & APN-005 is currently being studied in the P-I study in the US
Ref: PRNewswire | Image: APRINOIA Therapeutics
Related News:- Samsung Biologics Collaborates with APRINOIA Therapeutics to Expand its Presence in Greater China
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
