NewAmsterdam's bid to revive Amgen cardio drug heads to Nasdaq in Frazier SPAC deal
Five years after Amgen buried its CETP cholesterol drug, a Dutch biotech with hundreds of millions in funding is headed to Wall Street to continue testing the therapy in Phase III trials.
A month after spreading the news about securing $123 million upfront in an overall €1 billion deal, NewAmsterdam Pharma is back with more financing, this time from industry VC heavyweights Frazier and Bain in a deal that will take the biotech public via Frazier’s blank check company. The SPAC tie-up, which includes a PIPE, will boost NewAmsterdam’s coffers by $235 million, rounding out the company’s total cash reserves to $470 million, the companies said Monday morning.
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