FS Development II in an 8-K filing today disclosed its shareholders voted in favor of merging with Pardes Biosciences.
Pardes received gross proceeds of approximately $274 million, prior to transaction expenses, which includes cash proceeds of approximately $199 million from the SPAC’s trust account (after redemptions of approximately $2.4 million) and $75 million from PIPE investors led by Foresite Capital, an affiliate of FS Development II, RA Capital Management, Frazier Life Sciences, funds and accounts advised by T. Rowe Price Associates, GMF Capital, EcoR1 Capital, Monashee Investment Management, as well as strategic investor Gilead Sciences.
Pardes’ oral antiviral drug candidate is designed to inhibit an essential viral protein, the main protease of SARS-CoV-2, the virus causing COVID-19.
Pardes common stock is expected to list on the Nasdaq under PRDS. Read more.
