Lux Health Tech Acquisition today announced that it has entered into a non-binding letter of intent for a business combination with a life sciences company addressing “significant unmet needs in some of the most costly and debilitating segments of healthcare.”
Although unnamed in the press release, the target has an experienced executive and scientific leadership team that has built an extensive technology platform with multiple programs in development, and is backed by leading private and public market investors, Lux said.
Under terms of the LOI, Lux and the target would merge, with the target’s existing shareholders rolling 100% of their equity into the combined public company.
Lux raised $345 million in a November 2020 IPO.
The SPAC said it expects to announce additional details regarding the proposed business combination when a definitive agreement is executed, “which is expected in the second half of 2022.” Read more.
