HDL Therapeutics to go Public via Swiftmerge Acquisition Corp. SPAC Merger for ~$480M
Shots:
- The combined company will have an enterprise value of ~$480M, $104M in gross proceeds incl. $24M from Swiftmerge's trust account & $80M from a PIPE financing that Swiftmerge is raising. The transaction is expected to close in Q4’23
- HDL Therapeutics will be a wholly owned subsidiary of Swiftmerge & the shares of the combined company are expected to trade on Nasdaq with the ticker symbol “HDLT”. The business combination focuses to advance the commercialization of an innovative US FDA-approved cardiovascular disease treatment
- HDL plans to expand its therapeutic platform to target atherosclerotic plaques in other conditions to treat large patient populations with a biologic formulation. HDL developed a therapeutic device i.e., PDS-2 System that uses a patient's plasma to harness the body’s own biology for coronary atherosclerosis
Ref: Businesswire | Image: HDL Therapeutics
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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.
