Baylor College of Medicine immuno-oncology spinout Marker Therapeutics is to merge with publicly-listed TapImmune, which has set up a $70m private placement to support the new entity.
Marker Therapeutics, a US-based T-cell therapy developer spun out of Baylor College of Medicine, is to merge with immuno-oncology developer TapImmune on an equal basis, with the new company expected to raise $70m through a private placement.
The placement will be led by venture capital firm New Enterprise Associates with commitments from Aisling Capital, Perspective Advisors and other undisclosed new and existing investors.
It consists of 17.5 million common TapImmune shares priced at $4 each and 13.1 million…
