University of Tübingen’s immuno-oncology spinout Immatics has undertaken a reverse merger with special purpose acquisition company Arya Sciences to list in the US.
Immatics, a Germany-based cancer immunotherapies developer spun out of University of Tübingen, has executed a reverse merger with special purpose acquisition company Arya Sciences Acquisition to list on the Nasdaq Capital Market.
Shares opened at $15.05 on Thursday but have continued to drop and closed at $14.40 yesterday, giving Immatics a market cap of $5.64bn. It is trading under the ticker symbol IMTX.
Proceeds from the transaction amounted to approximately $253m, consisting of $149m held in Arya’s trust…
