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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