Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ligand announces that Janssen has received approval from European Commission for antibody, Cano Health buys Doctor’s Medical Center, and Babylon ditches UK for US
Ligand Announces that Janssen has Received Approval from European Commission for TECVAYLI for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced that the Janssen Biotech, Inc. (Janssen) received conditional marketing authorization (CMA) from the European Commission for TECVAYLI® (teclistamab) as monotherapy for the treatment of patients with relapsed or refractory (R/R) multiple myeloma. Teclistamab is a T-cell redirecting, bispecific antibody targeting both B-cell maturation antigen (BCMA) and CD3 that was discovered by Janssen scientists using OmniAb’s OmniRat antibody discovery technology.
Avista Public Acquisition Corp. II (NASDAQ:AHPA) entered into a definitive agreement to acquire Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) to spin-off its antibody discovery business OmniAb earlier this year on March 23, 2022.
READCano Health buys Doctor’s Medical Center for $300M to cement its primary care business in Florida
Miami-based Cano Health (NYSE:CANO) announced today the acquisition of fellow primary care provider Doctor’s Medical Center in a bid to grow its Medicare, Medicaid and Affordable Care Act (ACA) exchange memberships in South Florida.
The deal closed July 2 and ran Cano Health $300 million, $250 million of which the company said was financed by new debt. Cano Health—which recently joined the public markets through a $4.4 billion merger with Jaws Acquisition Corp.—runs value-based primary care centers and provides support to other primary care practices treating senior patients.
READVirtual care company Babylon ditches UK for the US
Babylon (NYSE:BBLN), which offers an artificial intelligence-powered virtual care app, has largely left the U.K., where it is headquartered, in favor of the U.S. market, Wired reported Aug. 23.
In early August, the London-based digital health company exited its last hospital contract with the National Health Service eight years ahead of schedule, at the same time it is expanding into the United States, according to the story.
Babylon went public last year as part of a $4.2 billion SPAC merger with Alkuri Global, but has since seen its stock price decline by 90 percent and undergone layoffs.
READ
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...
Seaport Calibre Materials Acquisition Corp. (Nasdaq: SCMA) announced this afternoon that it is pushing today’s special meeting back until January 31. The SPAC is currently facing a completion deadline of February 1, but is looking to extend its timeline by an additional six months to August 1. Stockholders may elect to redeem their shares for a pro rata...
Blockchain Coinvestors I (NASDAQ:BCSA) announced this afternoon that it is once again postponing its special meeting to extend its timeline to complete its business combination. The meeting was originally scheduled to be held on January 18, but was subsequently postponed to January 27, and now February 3. The SPAC is hoping to gain shareholder approval at...
Insight Acquisition Corp. (NYSE: INAQ) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with oil and gas developer Avila Energy Corporation (CSE:VIK). The parties have agreed to negotiate the terms of the transaction on an exclusive basis through February 24, at which point Insight may extend the term for an additional...