Bristol Myers Squibb and Pfizer Ventures are part of a PIPE financing backing the fibrosis and neurodegenerative disease drug developer's reverse takeover.

Blade Therapeutics, a US-based fibrosis treatment developer backed by pharmaceutical firms Bristol Myers Squibb, Novartis and Pfizer, has agreed to a reverse merger with special purpose acquisition company Biotech Acquisition Company.

The merger is expected to close in the first quarter of 2022, whereupon Biotech Acquisition Company will be rebranded to Blade Biotherapeutics and inherit Biotech Acquisition Company’s listing on the Nasdaq Capital Market. The combined company is expected to have a valuation of nearly $353m.

Bristol Myers Squibb and…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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