Moringa Acquisition today announced a business combination agreement with Silexion, a clinical-stage, oncology-focused biotechnology company, at a pre-transaction equity value of $62.5 million, based on a $10 share price.
If approved, the deal is is expected to close in the third quarter.
Silexion is specifically focused on the development of treatments for unsatisfactorily treated solid tumor cancers which have the mutated KRAS oncogene. The company conducted a Phase 2a clinical trial which has shown positive efficacy results in comparison to the control of chemotherapy alone. Silexion’s is committed to pushing the boundaries of therapeutic advancements in the field of oncology, and further developing its second generation product for locally advanced pancreatic cancer.
Moringa raised $100 million in a February 2021 IPO, although its current market cap is just under $42.7 million.
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