Making a name for itself in Covid-19 testing, Hong Kong's Prenetics is the latest biotech SPAC merger — report
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A Hong Kong biotech researching genetic sequencing and developing rapid Covid-19 tests is reportedly set to become the first billion-dollar startup in the city to go public.
Prenetics will hop onto Nasdaq through a SPAC, CNBC reported early Thursday, in a deal that will value the biotech at $1.3 billion. Founded by entrepreneur Danny Yeung, Prenetics will reverse merge with the SPAC Artisan Acquisition, which comes from the CEO of the Hong Kong conglomerate New World Development.
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