Veraxa Takes SPAC Route To Develop Bispecific ADCs and T-Cell Engagers

 
• By Andrew McConaghie

The Swiss biotech firm could go public on the NASDAQ later this year, and points to other preclinical dealmaking in the space to back its strategy.

Veraxa is headquartered in Zurich, Switzerland. (Shutterstock)

Switzerland-based Veraxa Biotech is to merge with special purpose acquisition company (SPAC) Voyager and gain a NASDAQ listing to help fuel its pipeline of novel bispecifics.

Veraxa’s equity value contribution into the combined business will be approximately $1.3bn, and Voyager said the deal would give the combined company, to be known as Veraxa, a valuation of around $1.64bn

Key Takeaways
  • The Swiss biotech's antibodies employ a 'safety switch' to help prevent off-target toxicity

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