Fresenius Medical Care and Access Industries-backed Humacyte will merge with Alpha Healthcare Acquisition Corp to become a public business with a market cap of $1.1bn.

Humacyte, a US-based developer of tissue-based medical technology backed by conglomerate Access Industries and healthcare company Fresenius Medical Care, will undertake a reverse merger with Alpha Healthcare Acquisition Corp.

Fresenius Medical Care and Alexandria Venture Investments, a unit of life sciences real estate investment trust Alexandria Real Estate Equities, have contributed to a $175m private investment in public equity (Pipe).

The Pipe also attracted OrbiMed, Monashee Investment Management, UBS O’Connor, Morgan Creek Capital and a range of unnamed healthcare-focused funds.

Thierry Heles

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