APRINOIA Therapeutics Announces Mutual Termination of Business Combination Agreement with ROSS Acquisition Corp II
25 Aug 2023
Acquisition
APRINOIA Therapeutics (“APRINOIA”), a global clinical-stage biopharmaceutical company developing novel therapeutics and precision diagnostics for the treatment of neurodegenerative diseases such as Alzheimer's Disease (“AD”) and Progressive Supranuclear Palsy (“PSP”), announced a mutual termination of its previously announced business combination agreement with Ross Acquisition Corp II (“RAC”), a special purpose acquisition company. The parties entered into a Termination Agreement on August 21, 2023, which is effective immediately and contains mutual releases for claims and liabilities. A copy of the termination agreement is filed as an exhibit to a Current Report on Form 8-K filed by RAC.
APRINOIA is developing three platforms to diagnose and treat neurodegenerative disorders marked by abnormal protein aggregates of tau and alpha-synuclein (“α-Syn”) that are toxic to brain cells: (1) highly sensitive and selective positron emission tomography (“PET”) diagnostic tracers for tau and α-Syn aggregates, with 18F-APN-1607 (INN: florzolotau) being a potential first-in-class 3 carboxy-terminal/4 carboxy-terminal domain repeat tau PET tracer for the diagnosis of PSP and related disorders, as well as AD; (2) an antibody platform, with APNmAb005 being a novel monoclonal antibody with greater selectivity for pathologic forms of tau that contribute to the pathogenesis of AD and primary tauopathies; and (3) a protein degrader platform based on proteolysis targeting chimeras that target pathological α-Syn and tau proteins, that potentially represents one of the more innovative therapeutic approaches for the treatment of neurodegenerative diseases.
About APRINOIA
APRINOIA Therapeutics Inc., is a global clinical-stage biopharmaceutical company, headquartered in Cambridge, MA, developing novel therapeutics and precision diagnostics for the treatment of neurodegenerative diseases.
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