Longevity Acquisition said today that merger target 4D pharma has announced progress on activities in its development program for a lead immuno-oncology single strain Live Biotherapeutic candidate.
The therapy is in clinical trials for treatment of a variety of cancers.
Longevity’s proposed merger with 4D pharma, announced four months ago, has been marked by several challenges for the SPAC, including a cash consideration for shareholder approval of its merger deadline extension, which was granted in November.
The SPAc also fell out of and ultimately regained compliance with Nasdaq for a continued listing on the exchange.
Under terms of the merger agreement, 4D pharma would receive the $14.6 million cash held by Longevity. In addition, 4D pharma would gain the proceeds of warrants to purchase Longevity shares worth up to $23 million.Read more.
