Shots:
- BAC signs a merger agreement with Blade for an enterprise value of ~$352.8M based on 58M in shares of common stock. Blade Therapeutics will rename as Blade Biotherapeutics & listed on Nasdaq under the ticker symbol “BBTX”
- The transaction is expected to close in Q1’22 & will provide a pro forma cash balance of ~$254.3M to the combined company including ~$24.3M PIPE at $10.00/ share along with $230M of net cash in BAC’s trust
- Blade plans to start a P-II study of cudetaxestat for IPF & a P-I clinical study of BLD-2184 for ND in H1’22. In P-I studies, cudetaxestat was well tolerated with a demonstrated PK/PD correlation and biomarker activity with a supportive clinical safety profile
Click here to read the full press release/ article | Ref: PR Newswire | Image: Biotechgate
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