Fore­site's Jim Tanan­baum yanks $250M SPAC, as an RA-backed Ox­ford spin­out braves the chop­py IPO wa­ters

The biotech mar­ket con­di­tions have ap­par­ent­ly got­ten chop­py enough to now pre­clude SPAC di­rec­tors from tak­ing their blank check com­pa­nies pub­lic.

Jim Tanan­baum’s Fore­site Cap­i­tal with­drew its SPAC pitch on Fri­day, send­ing a note to the SEC in­form­ing it of the ditched plans. Tanan­baum had aimed to raise $250 mil­lion for the SPAC, known as Fore­site Life Sci­ences Corp., but has now re­versed course.

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