Ex-Sanofi CEO on board, a new $158M SPAC de­buts look­ing to shake up the Eu­ro­pean CD­MO mar­ket

What do you get when some of the most pow­er­ful CD­MOs in the world join forces? The first SPAC ded­i­cat­ed to meet­ing the crit­i­cal de­mand for bio­man­u­fac­tur­ing on the con­ti­nent.

eu­reK­ING will be a pub­licly list­ed shell com­pa­ny. It is backed by eu­reKARE, the in­vest­ment com­pa­ny fo­cused on de­vel­op­ing syn­thet­ic bi­ol­o­gy and mi­cro­bio­me in­no­va­tion across Eu­rope.

The com­pa­ny has plans to raise 150 mil­lion eu­ros, Reuters re­port­ed. It will list on the Eu­ronext Paris, and has iden­ti­fied 40 man­u­fac­tur­ing tar­gets. Michael Kloss, for­mer­ly of PHC Hold­ings, told Reuters that it plans to swal­low three CD­MOs that each make rough­ly 50 mil­lion eu­ros a year over the next few years.

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