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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