SPAC merg­er falls through be­tween Wilbur Ross' blank check com­pa­ny and Alzheimer's play­er

Cam­bridge, MA-based Apri­noia Ther­a­peu­tics and a blank check com­pa­ny helmed by for­mer US Com­merce Sec­re­tary Wilbur Ross have called off their pro­posed merg­er.

Un­der the orig­i­nal deal, Ross Ac­qui­si­tion Corp II was slat­ed to is­sue $280 mil­lion of stock to Apri­noia, and Ross — the CEO — said he had per­son­al­ly in­vest­ed $7.5 mil­lion and planned to com­mit an­oth­er $12.5 mil­lion to fund the de­vel­op­ment of Apri­noia’s lead prod­uct, a tau PET trac­er de­signed to help di­ag­nose Alzheimer’s dis­ease, through to com­mer­cial­iza­tion in Chi­na.

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