Illumina and Celgene could exit genome researcher Human Longevity in a reverse merger while Openly raised $75m from investors including Advance Venture Partners and Gradient Ventures.
Public markets
US-based genome researcher Human Longevity has signed a letter of intent to execute a reverse merger with special purpose acquisition company Freedom Acquisition 1. The non-binding deal would involve the combined business taking Freedom Acquisition 1’s listing on the New York Stock Exchange and would come after $330m in funding from investors including genomics technology producer Illumina, pharmaceutical firm Celgene and GE Ventures, the now shuttered investment arm of power and industrial equipment manufacturer General Electric.
M&A
Advanced materials producer Meta Materials has agreed to acquire the assets and intellectual property of Optodot, a developer of nano-composite battery technology, for $3.5m in cash and $45m of shares. Although they did not reveal the size of the investment, Optodot had raised an undisclosed amount from LG Technology Ventures, a subsidiary of conglomerate LG, as of 2019.
Propel Venture Partners, the venture capital firm funded by financial services…
