LOCUST WALK NEWS
CytoReason Secures $80M from OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific to Scale Its AI Disease Models and Establish US Hub in Cambridge, Massachusetts
CytoReason, a leader in developing computational disease models for predictive insights, announced today it secured an aggregated $80 million from OurCrowd, NVIDIA (Nasdaq: NVDA), Pfizer (NYSE: PFE), and Thermo Fisher Scientific (NYSE: TMO). CytoReason will use this investment to expand the application of its models into additional indications, grow its proprietary molecular and clinical data, and establish an office in Cambridge, Massachusetts later this year.
Ascentage Pharma Signs Option Agreement with Takeda to Enter into Exclusive Global License for Olverembatinib
Ascentage Pharma (6855 HK), a global biopharmaceutical company engaged in developing novel therapies for cancer, chronic hepatitis B (CHB), and age-related diseases, announced today the signing of an option agreement with Takeda to enter into an exclusive license agreement for olverembatinib, an oral, potentially best-in-class third-generation BCR-ABL tyrosine kinase inhibitor (TKI), which is currently in development for chronic myeloid leukemia (CML) and other hematological cancers. If exercised, the option would allow Takeda to license exclusive global rights to develop and commercialize olverembatinib in all territories outside of among others, mainland China, Hong Kong, Macau, Taiwan, China.
Garuda Therapeutics Launches with $72 Million Series A Financing
Garuda Therapeutics, a company creating off-the-shelf, durable blood stem cell therapies, launched today with an oversubscribed $72 million Series A financing led by Aisling Capital, Northpond Ventures and Orbimed, supported by Cormorant Asset Management, Ridgeback Capital Investments, Monashee Investment Management, Sectoral Asset Management, National Resilience, Inc. (Resilience), Mass General Brigham Ventures, among others. Garuda is developing the world’s first, off-the-shelf hematopoietic stem cell platform that will eliminate dependency on donor or patient cells.
Locust Walk Acquisition Corp.’s Stockholders Approve Business Combination with eFFECTOR Therapeutics to Create Next-Generation Oncology Company Developing New Class of Cancer Therapies
Locust Walk Acquisition Corp. (NASDAQ: LWAC) (“LWAC” or the “Company”), a special purpose acquisition company, announced today that the Company’s stockholders have approved all proposals related to the previously announced business combination (the “Business Combination”) with eFFECTOR Therapeutics, Inc. (“eFFECTOR”) at a special meeting of stockholders held on August 24, 2021. Approximately 93.2% of the votes cast at the meeting on the Business Combination proposal, representing approximately 71.7% of LWAC’s outstanding shares, voted to approve the Business Combination. LWAC stockholders also voted overwhelmingly to approve the other proposals at the special meeting.
eFFECTOR Therapeutics and Locust Walk Acquisition Corp. Announce Merger Agreement to Create Publicly Listed, Next-Generation Oncology Company Developing New Class of Cancer Therapies
eFFECTOR Therapeutics, Inc. (eFFECTOR), a biopharmaceutical company focused on pioneering the development of selective translation regulation inhibitors (STRIs) for the treatment of cancer, and Locust Walk Acquisition Corp. (NASDAQ: LWAC), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced they have entered into a definitive merger agreement. Upon closing of the transaction, anticipated to occur in the third quarter of 2021, the combined company will be named eFFECTOR Therapeutics, Inc. and will be led by Steve Worland, Ph.D., president and CEO. The combined company’s common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “EFTR”.
Boston Business Journal: Life sciences firm Locust Walk’s plans for its $175M SPAC
Geoff Meyerson co-founded Locust Walk, a Boston-based life sciences consulting firm, on Sept. 15, 2008, the same day that Lehman Brothers filed for bankruptcy and Merrill Lynch sold itself to Bank of America. Meyerson said he “figured the world didn’t need another investment bank,” so he and his team found other ways to support biotech firms: advising on strategy, providing analytics, helping raise capital and preparing them for IPOs.
Locust Walk Acquisition Corp. Class A Common Shares and Warrants to Commence Trading Separately on March 1, 2021
Locust Walk Acquisition Corp. announced that the holders of the Company’s units may elect to separately trade the Class A common shares and warrants underlying the units commencing on March 1, 2021. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “LWACU” and the Class A common shares and warrants are expected to trade under the symbols “LWAC” and “LWACW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Locust Walk Acquisition Corp. Announces Completion of $175,000,000 Initial Public Offering, Including Exercise of Over-Allotment Option
Locust Walk Acquisition Corp. announced the completion of its initial public offering of 17,500,000 units at a price of $10.00 per unit, which includes 2,200,000 units issued pursuant to the exercise of the underwriters’ over-allotment option, for gross proceeds to the Company of $175,000,000. The Company’s units began trading on The Nasdaq Capital Market (“Nasdaq”) under the symbol “LWACU” on January 8, 2021. Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-third of one warrant, with each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “LWAC” and “LWACW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Locust Walk Acquisition Corp. Announces Pricing of Upsized $153,000,000 Initial Public Offering
Locust Walk Acquisition Corp. announced the pricing of its upsized initial public offering of 15,300,000 units at a price of $10.00 per unit, for gross proceeds to the Company of $153,000,000. The Company’s units will be listed on The Nasdaq Capital Market (“Nasdaq”) under the symbol “LWACU” and will begin trading on January 8, 2021. Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-third of one warrant, with each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “LWAC” and “LWACW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The closing of the offering is anticipated to take place on or about January 12, 2021, subject to customary closing conditions.