Patrick Soon-Shiong's former chief scientist takes cancer company public in $155M reverse merger
Editor’s note: Interested in following biopharma’s fast-paced IPO market? You can bookmark our IPO Tracker here.
SPACs have become the preferred fast track for public markets over the past year, but apparently there’s still room for a good, old-fashioned reverse merger.
Cancer-focused Aadi Bioscience announced Monday that they would merge with the struggling public biotech Aerpio Pharmaceuticals. To go along with the merger, Aadi raised $155 million from private investors to commercialize their lead drug, Fyarro, which is now sitting before the FDA. Acuta Capital Partners and KVP Capital led the round.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 109,100+ biopharma pros reading Endpoints daily — and it's free.