4D Pharma Joins The SPAC Trend To Fund Its Keytruda-Boosting Biotherapeutic
A Platform To Attract More Investors
The Leeds, UK-based company is looking to the alternative route to the US stock market to fund its live biotherapeutics platform.
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Special purpose acquisition companies can bring biopharma firms to market faster than a traditional initial public offering, but frequent failures and increased scrutiny from the US Securities and Exchange Commission mean their heyday in the life sciences space is arguably over.
The UK biotech looks to have reached the end of the road, despite some encouraging signs from its microbiome-based pipeline.
EcoR1 and Casdin/Corvex took their second and third special purpose acquisition corporations public. Also, Ionis sold notes to buy back older notes and fund operations as it cut 70% of Akcea’s staff. In venture capital, ValenzaBio raised $70m and RA boosted Metagenomi’s series A to $75m.