1. In Vivo

Science 37 Blockbuster SPAC Valuation Points To Growth In Decentralized Trials

 
• By Ben Comer

Expanding partnerships with CROs, the COVID-19 lockdown, an eager FDA and an industry desire for faster and more diverse clinical trial recruiting helped Science 37, a decentralized clinical trial company, nail down plans to go public. Science 37 CEO David Coman spoke with In Vivo about the reasons for going public via SPAC, and why decentralization is a “prerequisite to operating a clinical trial today.” 

Decentralized trials

Founded in 2014, Los Angeles-based Science 37 announced in May that it would trade on the public market through a merger with LifeSci Acquisition II Corp., a special purpose acquisition company (SPAC). The deal, which is expected to close in the third quarter, will value Science 37 at $1.05bn, and Coman said he hopes the stock price will “get to $100 in short order, and we’re going to have to earn it.” LifeSci Acquisition II Corp., the blank check or SPAC party in the deal, was priced at just over $10 at close of trade on 21 May, 2021. SPACs became an increasingly popular route to market for health care companies in 2020. (Also see "SPACs Surge In 2020" - In Vivo, 15 February, 2021.)

For Science 37, the decision to go public using a SPAC rather than a traditional IPO came down to three...

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