Former US Commerce Secretary Wilbur Ross (Olivier Douliery/Abaca/Sipa via AP Images)
Ex-US Commerce Secretary Wilbur Ross pairs his SPAC with Alzheimer's biotech
Waiting until the very last minute, former US Commerce Secretary Wilbur Ross’ special purpose acquisition company has found a business to buy: a biotech allied with Biogen on diagnosing Alzheimer’s disease.
Coming together are Cambridge, MA biotech Aprinoia Therapeutics and ROSS Acquisition Corp. II, with about $280 million of ROSS stock going toward the diagnostics and drug developer. Ross will give $7.5 million of his own money through a convertible note and up to $12.5 million at the time of closing, which is expected in the first half of this year, the companies said Wednesday.
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