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.READ
Cano 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.READ
Virtual 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
Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...
Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change. However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...
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...