Small biotech chaired by ex-Pur­due CEO Mark Tim­ney jumps in­to the SPAC lane

The lat­est biotech SPAC has land­ed, and it’s one fea­tur­ing Pur­due Phar­ma’s for­mer CEO, Mark Tim­ney.

Blade Ther­a­peu­tics an­nounced its plans Mon­day to re­verse merge with the blunt­ly named Biotech Ac­qui­si­tion Com­pa­ny in a $254.3 mil­lion deal. Tim­ney, who cur­rent­ly serves as Blade’s ex­ec­u­tive chair­man, will re­tain the same role once the com­bined com­pa­ny com­pletes the merg­er in the first quar­ter of 2022.

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