Clos­ing out a qui­et week on Wall Street, a new SPAC prices its pub­lic de­but and be­gins the search for a biotech part­ner

Biotech’s hot run of IPO pric­ings ap­pears to be slow­ing down for the fall, with just a cou­ple of com­pa­nies mak­ing the jump to Wall Street this week.

The lat­est, a SPAC called Mon­terey Bio Ac­qui­si­tion, priced 10,000 shares at $10 apiece on Thurs­day, rak­ing in a $100 mil­lion raise. The news comes rough­ly a month af­ter the blank check com­pa­ny filed its S-1 pa­pers.

Run­ning the show is San­jeev Satyal, who was most re­cent­ly CEO of the biotech pH Phar­ma. The Seoul- and Sil­i­con Val­ley-based com­pa­ny is work­ing on a slate of can­di­dates across on­col­o­gy, in­flam­ma­tion, liv­er dis­ease, ge­net­ic dis­ease and oph­thal­mol­o­gy, the most ad­vanced of which is a Phase III-ready Rho ki­nase in­hibitor for glau­co­ma. Af­ter the of­fer­ing, Satyal will be left with a 1.2% stake in the com­pa­ny, ac­cord­ing to the S-1/A.

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