Biotech Acquisition Company and Blade Therapeutics, announced today a merger agreement that values the combined company at $352.8 million.
If approved, upon closing Blade Biotherapeutics is expected to list on the Nasdaq under BBTX. The deal is expected to close in the first quarter of 2022.
The transaction is expected to provide a pro forma cash balance of approximately $254.3 million before deducting estimated expenses of $25 million and including an approximately $24.3 million PIPE, as well as $230 million of net cash in BAC’s trust, assuming no redemptions.
PIPE financing is anchored by Deerfield Management, Pfizer Ventures, Bristol Myers Squibb, MPM Capital and Osage University Partners.
Blade Therapeutics is focused on developing treatments for debilitating, incurable fibrotic and neurodegenerative diseases. Read more.
