APx Acquisition I today announced a merger agreement with OmnigenicsAI, a precision medicine company incubated by Bioceres Group, and MultiplAI Health, a UK-based AI-enabled preventive medicine company. If approved, OmnigenicsAI would become a publicly listed company.
The deal values OmnigenicsAI and MultiplAI at a combined enterprise value of approximately $340 million.
The transaction is expected to close mid-year, when OmnigenicsAI’s shares would be listed on the Nasdaq under the ticker symbol OMNI.
Financial details were not immediately available, and neither the press release nor a subsequent regulatory filing contained information about transaction terms. Redemptions on an extension vote a year ago erased approximately $111.35 million from the APx trust, leaving about $68.3 million.
In connection with the transaction, OmnigenicsAI´s controlling shareholder, Heritas Ltd (“Parent”), previously entered into a Share Purchase Agreement (“SPA”) under which it agreed to acquire 100% of the outstanding shares and convertible securities of MultiplAI. The closing of the SPA is conditioned on the closing of the business combination.
The strategic combination would create a global AI-driven genomics company, focused on providing secure, precise, and reliable biological data, the companies said. “The integration of AI with precision medicine enables the interpretation of complex genomic data at an unprecedented scale, allowing for the delivery of highly personalized health insights, and clinical and therapeutic guidance.” Read more.
