Addimmune to go Public via 10x Capital Venture Acquisition Corp. III SPAC Merger for ~$500M
Shots:
- The proposed transaction represents a pre-money enterprise value of $500M for Addimmune incl. earnout of ~$300M in various clinical and priced-based milestones. The transaction is expected to close in Q1’24
- The combined company is expected to trade under the ticker symbol “HIV”. Existing Addimmune stockholders will roll 100% of their equity into the combined company
- Additionally, 10X III and Addimmune signed a non-binding LOI with Cantor for a $50M committed equity facility. The P-I trial results of AGT103-T showed positive safety results in 7 patients while the P-I trial along with another sponsor-initiated follow-on study showed active immune responses to HIV ~6mos. after dosing
Ref: Globenewswire | Image: Addimmune
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
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.
