New SPAC Biotech Acquisition filed with the SEC to offer 20 million units at $10 each to raise $200 million in an IPO.
The SPAC’s target sector is expected to be the healthcare industry, with a particular focus on life sciences/biotechnology, healthcare information technology, medical technology and technology-enabled healthcare service sectors. In biotechnology, the company said it would focus on platform biotech companies (companies with broad underlying technologies that have or could create multiple drug candidates), while in digital health, they expect to focus on B2B enterprise software solutions.
The SPAC is led by Dr. Michael Shleifer, chairman and CEO. Shleifer spent four years at L’Oréal before co-founding SPRIM in 2001. SPRIM now employs over 500 people in 17 countries, providing consulting and CRO services and stewarding life science clients through the development and delivery of commercially successful health solutions, according to the SPAC’s S-1 filing.
The SPAC intends to list on the Nasdaq under BIOTU. Read more.
