Minovia Therapeutics to Merge with Launch One Acquisition Corp. to Create Nasdaq-Listed Entity
Deal News | Jun 25, 2025 | Globenewswire
Minovia Therapeutics Ltd., a clinical-stage biotechnology company, is set to merge with Launch One Acquisition Corp., a special-purpose acquisition company, to form a new Nasdaq-listed entity. This business combination is expected to empower Minovia with enhanced capital for growth and development, particularly its Mitochondrial Augmentation Technology (MAT) platform targeting mitochondrial diseases and age-related conditions. The combined company, to be named Mito US One Ltd., will advance Minovia's pipeline, which includes products already backed by FDA Fast Track and Rare Pediatric Designations. Launch One's trust account currently holds approximately $239.7 million, potentially bolstering post-transaction finances, subject to shareholder redemptions. The transaction is anticipated to close by the fourth quarter of 2025, contingent on customary conditions and shareholder approvals. The merger further underscores Minovia's intent to lead the trillion-dollar longevity and regenerative medicine markets.
Sectors
- Biotechnology
- Healthcare Innovation
Geography
- Israel – Minovia Therapeutics is based in Haifa, Israel, developing its biotechnology solutions domestically.
- Cayman Islands – Launch One Acquisition Corp. is a Cayman Islands registered company participating in this cross-border business combination.
- United States – The combined entity will be publicly listed on Nasdaq, a US stock exchange, and expand its operations with a US-based manufacturing site.
Industry
- Biotechnology – The article discusses Minovia Therapeutics, a biotechnology company developing treatments for mitochondrial diseases using its proprietary MAT platform.
- Healthcare Innovation – Launch One Acquisition Corp. is a special-purpose acquisition company targeting innovations in healthcare, aligning with Minovia's focus on innovative mitochondrial therapies.
Financials
- 239.7 million – Amount currently held in Launch One's trust account, potentially available to the combined company post-transaction.
- 180 million – Pre-money equity valuation assigned to Minovia as part of the business combination agreement.
- 5 million – Expected bridge financing to be completed within 30 days, augmenting Minovia's equity valuation.
- 57.5 million – Potential earnout in shares for Minovia equity holders post-closing of the business combination.
- 18 million – Anticipated PIPE investments at the closing of the business combination.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Minovia Therapeutics Ltd. | Target Company | Company | A biotechnology firm focused on developing mitochondrial therapies, merging with Launch One to advance its therapeutic offerings. |
| Launch One Acquisition Corp. | Bidding Company | Company | A special-purpose acquisition company listed on Nasdaq, merging with Minovia to create a public entity focused on healthcare. |
| Natalie Yivgi-Ohana | Co-Founder and CEO | Person | CEO of Minovia, spearheading the company's innovative work in mitochondrial therapies. |
| Chris Ehrlich | CEO | Person | CEO of Launch One Acquisition Corp., facilitating the merger with Minovia. |
| Locus Walk | Financial Advisor | Company | Serving as the lead placement agent for the transaction. |
| Bevilacqua PLLC | Legal Advisor | Company | U.S. legal counsel to Minovia for the transaction. |
| Ellenoff Grossman & Schole LLP | Legal Advisor | Company | U.S. legal counsel to Launch One for the transaction. |