Nautilus Biotechnology and Arya Sciences Acquisition III today announced they have entered into a definitive business combination agreement.
Nautilus is expected to receive $350 million through the business combination, including a $200 million fully committed PIPE led by Arya’s sponsor Perceptive Advisors and other healthcare investors. The deal is expected to close in the second quarter, pending shareholder approvals.
The combined company is expected to have an initial market capitalization of approximately $1.3 billion.
Nautilus is a single-molecule protein analysis platform for quantifying the human proteome, the collection of proteins that can be used to analyze different cancer cells.
Upon closing, the combined company will be named Nautilus Biotechnology and its common stock is expected to list on the Nasdaq under NAUT.
