SPAC merg­er called off as com­pa­ny con­nect­ed to ex-Pur­due CEO de­cides to re­main pri­vate

Some­times, the third time is not the charm.

Blade Ther­a­peu­tics an­nounced Mon­day morn­ing that the com­pa­ny and its pro­posed merg­er part­ner, Biotech Ac­qui­si­tion Com­pa­ny, mu­tu­al­ly agreed to call things off, ef­fec­tive im­me­di­ate­ly. This takes place just sev­en months af­ter Blade, the small San Fran­cis­co biotech where ex-Pur­due CEO Mark Tim­ney is board chair, an­nounced the re­verse merg­er worth $254.3 mil­lion.

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