The SPAC attack has just begun. And the Richard Branson deal is just the tip of the biotech iceberg
When Richard Branson signed up to join the great SPAC migration of late 2020, you could say he had a rather broad idea of the kind of company he wanted to take public. Something “consumer facing,” said the iconic entrepreneur in his paperwork.
Last week Branson ended up in the embrace of 23andMe, satisfied by the genetic testing the company made its name on along the consumer front and happy to jump into drug development, where the GlaxoSmithKline partner is now clearly focused.
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