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.
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Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...