Intelligent Medicine Acquisition filed to raise up to $150 million through an offering of 15 million units priced at $10 each. A unit consists of one share and one-half of a warrant.
The new SPAC intends to focus its search on life science companies that are using artificial intelligence, machine learning and big data to create and power a new model of drug discovery through research and development.
Intelligent Medicine is led by CEO, CFO and Director Gregory Simon, who most recently was the executive director of the White House Cancer Moonshot Task Force, a position created by President Barack Obama and for which he was chosen by then-Vice President Joe Biden in March 2016.
Cantor is sole book-runner. The underwriter has an option to purchase up to an additional 2.25 million units to cover any over-allotments.
The SPAC said it has applied to list on the Nasdaq under IQMDU. Read more.
