Two SPAC’d biotechs raise additional money as Bihua Chen’s blank check closes $184M IPO

14 Feb 2024

IPOAcquisitionImmunotherapy

The post-SPAC life isn’t all too great for most biotech companies — or those in other industries, for that matter. But some drug developers that went the blank-check route have found greener pastures in recent months, with two of them announcing large financings this week. This is amid a second biotech SPAC from Bihua Chen, founder of Cormorant Asset Management. Known as Helix Acquisition Corp. II $HLXB , the SPAC closed a $184 million initial public offering on Wednesday. It will hunt for a biotech or other healthcare business to combine with after Helix I found success with MoonLake Immunotherapeutics.

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Helix Technology Corp.

Helix OpCo LLC

Moonlake Immunotherapeutics AG

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