SPAC Ashington Innovation plans to acquire dormant biotech CelixirCelixir and lead heart failure program for $172M

London-based SPAC Ashington Innovation is planning to acquire dormant, UK-based biotech Celixir for $172 million (£135 million) in an all-share transaction, taking over its lead program for a heart failure drug.

In order to pay for CelixirCelixir, Ashington said it will place new ordinary shares to raise up to £3 million to finance drug development and working capital.

Jason Smart, the founder of Ashington Innovation, said in a statement that “the proposed acquisition meets our stated objective of identifying a potentially extremely valuable entity capable of sustainable development and with significant technological advantages.”

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来源: EndPoints

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