A fledg­ling biotech goes SPAC route to bankroll can­cer vac­cine, CAR-T and CD47

A rel­a­tive­ly un­known clin­i­cal-stage biotech — backed by a Ko­re­an light­ing com­pa­ny and fo­cused on a can­cer vac­cine out of a Thomas Jef­fer­son Uni­ver­si­ty lab — is head­ed to Nas­daq via the blank check route.

Lim­i­na­tus Phar­ma will get about $316 mil­lion in pro­ceeds from the SPAC com­bi­na­tion to fund its on­go­ing Phase IIa study of a can­cer vac­cine, bring a CAR-T ther­a­py in­to the clin­ic and prep a CD47 im­mune check­point in­hibitor for hu­man tri­als, the com­pa­ny said this week.

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