SPAC deal touches down for microcap biotech armed with a PhII, former Pfizer monoclonal antibody
While SPACs have been going slow after the market’s performance so far, it hasn’t kept everyone away from dealmaking and mergers.
A SPAC going by JATT Acquisition Corp announced Friday that it entered an agreement to combine with tiny biotech Zura Bio Limited, with plans to close the merger sometime before the end of the year, tentatively in Q4. After that is done, the companies claim the combined entity will be valued at around $215 million, retain the name Zura Bio Limited and list its shares on Nasdaq under the ticker $ZURA.
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