Business
BBOT Debuts as a Publicly Traded Company Focused on RAS-Pathway Malignances with a Potential to Realize the Full Promise of KRAS and PI3K Inhibition
Business combination transaction with Helix Acquisition Corp. II, a special purpose acquisition company sponsored by affiliates of Cormorant Asset Management, completed on August 11, 2025 Closed concurrent $261 million private investment in public equity (“PIPE”), led by Cormorant Combining approximately $120 million from the former Helix II trust account (reflecting a final redemption rate of approximately 39% which is the second lowest redemption rate for a biotech de-SPAC transaction since 20
About this update from Bridgebio Oncology Therapeutics, Inc.
[{"type":"image","alt":"TheRas, Inc. (d/b/a BBOT)","displaySize":"","headline":null,"caption":"TheRas, Inc. (d/b/a BBOT)","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":143,"url":"https://media.zenfs.com/en/globenewswire.com/9479f198b092ba1412cb0ee76f46ca4a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fHlO5lqk7Y3zBP.mSEEEmg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIwMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/9479f198b092ba1412cb0ee76f46ca4a","width":300,"height":143}},"lazy":false},{"type":"list","items":[{"val":[{"type":"text","content":"Business combination transaction with Helix Acquisition Corp. II, a special purpose acquisition company sponsored by affiliates of Cormorant Asset Management, completed on August 11, 2025 ","length":187,"tagName":"p"}]},{"val":[{"type":"text","content":"Closed concurrent $261 million private investment in public equity (“PIPE”), led by Cormorant ","length":93,"tagName":"p"}]},{"val":[{"type":"text","content":"Combining approximately $120 million from the former Helix II trust account (reflecting a final redemption rate of approximately 39% which is the second lowest redemption rate for a biotech de-SPAC transaction since 2022) with the PIPE provides approximately $382 million in gross proceeds ","length":289,"tagName":"p"}]},{"val":[{"type":"text","content":"Net proceeds will be used to accelerate the development of BBOT's pipeline of clinical-stage RAS-targeted oncology drug candidates ","length":134,"tagName":"p"}]},{"val":[{"type":"text","content":"BBOT to commence trading on the Nasdaq Global Market under the ticker symbol “BBOT” on August 12, 2025","length":102,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":805,"olType":false},{"type":"text","content":"SOUTH SAN FRANCISCO, Calif. and BOSTON, Aug. 11, 2025 (GLOBE NEWSWIRE) -- BridgeBio Oncology Therapeutics, Inc. (“BBOT”) (Nasdaq: BBOT), a clinical-stage biopharmaceutical company focused on RAS-pathway malignancies, today announced the closing of its previously announced business combination with Helix Acquisition Corp. II (formerly Nasdaq: HLXB) (“Helix”), a special purpose acquisition company (SPAC) sponsored by affiliates of Cormorant Asset Management. The business combination was approved by Helix’s shareholders on August 4, 2025, and closed on August 11, 2025.","length":572,"tagName"...