Press release
MoonLake Immunotherapeutics AG and Helix Acquisition Corp. Announce Business Combination Agreement to Create Publicly Listed Biotechnology Company Advancing Tri-specific Nanobody® Sonelokimab
- Total proceeds expected to be approximately $230 million, combining funds held in Helix Acquisition Corp’s trust account and a private investment in public
About this update from Moonlake Immunotherapeutics
[{"type":"text","content":"\n - Total proceeds expected to be approximately $230 million, combining funds held in Helix Acquisition Corp’s trust account and a private investment in public entity (PIPE) financing\n\n- Leading institutional investors commit $115 million through a PIPE led by Cormorant Asset Management\n\n- Business combination is expected to be completed late in the fourth quarter of 2021 or early in the first quarter of 2022\n\n- The combined company plans to advance clinical development of the tri-specific Nanobody® sonelokimab for the treatment of skin and joint diseases driven by IL-17A and IL-17F\n\n ZUG, Switzerland & BOSTON--(BUSINESS WIRE)--\nMoonLake Immunotherapeutics AG, a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory skin and joint diseases and Helix Acquisition Corp. (Nasdaq: HLXA), a special purpose acquisition company (SPAC) sponsored by Cormorant Asset Management, today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, the company will be renamed “MoonLake Immunotherapeutics” and will be led by an international team of immunology experts. The combined company’s common stock is expected to be listed on Nasdaq under the ticker symbol MLTX.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211004005327/en/\nIn addition to the approximately $115 million held in Helix Acquisition Corp.’s trust (assuming no redemptions), the transaction also includes commitments for a $115 million PIPE at $10.00 per share from a group including premier institutional and strategic investors. The PIPE is led by Cormorant Asset Management, and includes BVF Partners L.P., 683 Capital Partners, LP, Asymmetry Capital Management, LP, funds managed by Ghost Tree Capital Group, LP, Monashee Investment Management, LLC, RTW Investments, LP, Surveyor Capital (a Citadel company), TCG X and funds managed by Tekla Capital Management LLC.\n\nJorge Santos da Silva, PhD, CEO of MoonLake said: “This financing is an important milestone for our company. On behalf of the founders, we are grateful to the MoonLake team and our investors for ensuring access to the capital we need to advance our sonelokimab clinical programs, and create the potential to transform the lives of patients affected by IL-17A/F-...