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IPO | Merged



About ARYA Sciences Acquisition

ARYA Sciences Acquisition (NASDAQ: ARYA) is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

ARYA Sciences Acquisition Headquarter Location

51 Astor Place 10th Floor

New York, New York, 10003,

United States


Latest ARYA Sciences Acquisition News

Closing out a quiet week on Wall Street, a new SPAC prices its public debut and begins the search for a biotech partner

Oct 1, 2021

Nicole DeFeudis Editor Biotech’s hot run of IPO pric­ings ap­pears to be slow­ing down for the fall, with just a cou­ple of com­pa­nies mak­ing the jump to Wall Street this week. The lat­est, a SPAC called Mon­terey Bio Ac­qui­si­tion, priced 10,000 shares at $10 apiece on Thurs­day, rak­ing in a $100 mil­lion raise. The news comes rough­ly a month af­ter the blank check com­pa­ny filed its S-1 pa­pers. Run­ning the show is San­jeev Satyal, who was most re­cent­ly CEO of the biotech pH Phar­ma. The Seoul- and Sil­i­con Val­ley-based com­pa­ny is work­ing on a slate of can­di­dates across on­col­o­gy, in­flam­ma­tion, liv­er dis­ease, ge­net­ic dis­ease and oph­thal­mol­o­gy, the most ad­vanced of which is a Phase III-ready Rho ki­nase in­hibitor for glau­co­ma. Af­ter the of­fer­ing, Satyal will be left with a 1.2% stake in the com­pa­ny, ac­cord­ing to the S-1/A . Mon­terey Bio is large­ly con­trolled by the VC firm North­Star Bio Ven­tures and its man­ag­er, Sandip Pa­tel, who will own about 13% of shares af­ter the of­fer­ing. Chardan Mon­terey In­vest­ments, joint bookrun­ner on the of­fer­ing, has a rough­ly 4% piece of the pie. “Sci­en­tif­ic dis­cov­er­ies and the man­age­ment of biotech­nol­o­gy com­pa­nies are get­ting in­creas­ing­ly com­plex. Find­ing, de­vel­op­ing and launch­ing new drugs are par­tic­u­lar­ly chal­leng­ing and ex­pen­sive,” the S-1/A states. And that’s where Mon­terey thinks it can help. The SPAC says it plans on lever­ag­ing the ex­ten­sive net­work of its team — in­clud­ing some no­table board mem­bers like for­mer XO­MA CEO James Neal, and Frances Heller, who once led busi­ness de­vel­op­ment at Bris­tol My­ers Squibb — to merge with a biotech that has at least one in-house or in-li­censed pro­gram. SPAC ac­tiv­i­ty has slowed sig­nif­i­cant­ly since the first three months of this year, which saw more mon­ey flow in­to blank check com­pa­nies across all sec­tors than the en­tire­ty of 2020. But that isn’t to say there aren’t still com­pa­nies out there look­ing for part­ners. EQRx made head­lines back in Au­gust when it re­verse merged with the CM Life Sci­ences III SPAC in a mas­sive $1.8 bil­lion deal. And ear­li­er this week, Am­i­cus Ther­a­peu­tics spun out its gene ther­a­py unit, now called Car­i­tas Ther­a­peu­tics, to re­verse merge with Per­cep­tive’s fourth blank-check out­fit ARYA Sci­ences Ac­qui­si­tion Corp IV. Mon­terey Bio, which will list un­der the tick­er MTRYU, says it has a year to find a wor­thy part­ner. AUTHOR Kyle Blankenship Managing Editor GlaxoSmithKline’s R&D head Hal Barron has spent his four years on the job taking swing after swing to rejuvenate the drug giant’s pipeline after years of inertia. One of Barron’s biggest swings has now blown up in his face after a key cancer drug went down in flames in the clinic. GSK and Merck KGaA have ended their $4 billion collaboration on bintrafusp alfa, a once-promising cancer drug and the crown jewel of Barron’s pipeline rebuild efforts that has endured a spate of failures in recent months, the companies said Thursday. Keep reading Endpoints with a free subscription Unlock this story instantly and join 118,800+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Zachary Brennan Senior Editor The FDA on Thursday accidentally published a notice announcing the award of a priority review voucher to rare disease drug developer Enzyvant for its new regenerative therapy for the treatment of pediatric patients with congenital athymia. The only problem? The treatment still hasn’t won FDA approval. The agency did not immediately respond to a request for comment but told other publications that the notice was published in error. The release of the PRV notice, which typically come days or weeks after an approval is announced, puzzled the company. Read More October 1, 2021 10:03 AM EDTUpdated 10:25 AM Kyle Blankenship Managing Editor Merck’s proposed buyout of Acceleron Pharma represents a major bolt-on opportunity as the drugmaker looks to a future without megablockbuster Keytruda driving sales. But one of Acceleron’s activist investors isn’t pleased with the price tag of the deal, and history says that could be bad news for the buyout. In a letter to Acceleron shareholders, Avoro Capital claimed Merck’s proposed $11.5 billion buyout at a 38% premium “drastically undervalues” the biotech, given premiums on similar deals in the recent past. Avoro owns 7% of shares in Acceleron, which has partnered with Bristol Myers Squibb on anemia drug Reblozyl and sotatercept, a Phase III candidate for rare cardio disease pulmonary arterial hypertension (PAH) that will serve as the centerpiece of the Merck acquisition. Keep reading Endpoints with a free subscription Unlock this story instantly and join 118,800+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Zachary Brennan Senior Editor Omeros’ stock price fell by more than 40% in early trading Friday as the company disclosed that the FDA has found deficiencies in its application for narsoplimab as a treatment of the rare but serious blood clotting disease known as hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA). “FDA has identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time,” Omeros said in a statement. And although the FDA stated that the notification does not reflect a final decision on the information under review, these types of notifications from the FDA typically lead to CRLs. Read More Max Gelman Editor United Therapeutics has been a public company since 1999, but late Thursday the company announced it’s entering a new phase. United will become a public benefit corporation in what the company claims is the first conversion of a public biotech or pharmaceutical company to PBC, United said. The biotech noted it has previous experience in the PBC world, having run a subsidiary as a public benefit corporation for the past six years. Keep reading Endpoints with a free subscription Unlock this story instantly and join 118,800+ biopharma pros reading Endpoints daily — and it's free. SIGN UP

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