Mas­ter deal­mak­er David Hung re­tools a SPAC sedan in­to a fi­nanc­ing mus­cle ve­hi­cle that leaves his can­cer start­up with $850M and a place on Wall Street

It’s on­ly right that one of the in­dus­try’s top deal­mak­ers just com­plet­ed one of the biggest SPAC-re­lat­ed deals in the pipeline.

David Hung, of Medi­va­tion fame, has com­plet­ed a back flip in­to the mar­ket, merg­ing with EcoR1 Cap­i­tal’s SPAC Panacea and land­ing neat­ly on Wall Street with an $NU­VB stock tick­er af­ter fill­ing out the blank check in his name. In ad­di­tion to the $144 mil­lion held in the SPAC — pro­vid­ed none of the in­vestors opt out — Hung is get­ting ahold of $500 mil­lion more be­ing chipped in by a slate of in­sti­tu­tion­al in­vestors who feel that Hung could have the keys to an­oth­er Medi­va­tion-style suc­cess.

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