'Tim­ing could­n't be bet­ter': An ex-gener­ics mak­er goes SPAC route with blank check in­tend­ed for sports mar­ket

Dave Mehal­ick orig­i­nal­ly planned for his com­pa­ny to be a gener­ics mak­er with five drugs in the hop­per. But quick­ly af­ter found­ing Co­ep­tis Ther­a­peu­tics in 2017, he re­al­ized that area of the phar­ma­ceu­ti­cal mar­ket was “re­al­ly be­com­ing a race to the bot­tom.”

So, he piv­ot­ed. The lit­tle-known Pitts­burgh-area biotech raised a cou­ple mil­lion dol­lars over the years from pri­vate in­vestors, went pub­lic on the OTC Pink mar­ket and linked arms with Vy­Gen-Bio, the Karolin­s­ka In­sti­tutet and Stat­era Bio­phar­ma to be­come an on­col­o­gy cell ther­a­py de­vel­op­er.

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