Oncology therapeutics company Varian Biopharmaceuticals and SPK Acquisition released a joint presentation to discuss their proposed merger transaction and provide a corporate update.
The presentation can be accessed here. The business combination is valued at $116 million.
Terms call for Varian Bio to merge with a wholly owned subsidiary of SPK. The SPAC, which currently holds approximately $50 million in gross proceeds in trust, will be renamed Varian Biopharma if the merger is approved. The cash proceeds from the transactions are expected to fund manufacturing, pre-clinical and IND-enabling toxicology studies, and human clinical studies. Read more.
