Three biomed startups — Cerevast Medical, Novokera, and Aegeria Soft Tissue — merged to form a new entity called Longevity Biomedical.
The new company is looking to raise $30M through a public listing via a SPAC merger with blank cheque company Denali Capital Acquisition Corp, formed by investment bank U.S. Tiger Securities.
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- The firm expects to raise an additional $30M through PIPE funding.
- The Bothell, Wash.-based firm will use the proceeds to accelerate clinical trials and preclinical studies of therapeutics and grow its team size.
- Longevity is poised to achieve a $236.2M valuation at the public listing.
- With the merger, Longevity's product portfolio includes stroke and retinal vein occlusion treatment, soft-tissue reconstruction, and a preclinical product for corneal blindness.
- Cerevast's CEO, Bradford Zakes, will lead the newly merged entity as its CEO and president.
- Zakes was formerly the CEO at ImaRx Therapeutics, which was acquired by Cerevast.