The Pfizer, GlaxoSmithKline, Novartis, AbbVie and Astellas-backed oncology therapy developer is set to go public through a reverse takeover.
Effector Therapeutics, a US-based cancer treatment developer backed by several corporate investors, agreed to a reverse merger with special purpose acquisition company Locust Walk Acquisition Corporation today.
Locust Walk is listed on Nasdaq Capital Market under the ticker symbol LWAC having raised $175m in its January 2021 initial public offering, and the reverse merger deal will include $60m private investment in public equity (PIPE) financing and value the combined business at $419m.
The PIPE financing has been committed by investors…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
