VERAXA and Voyager Unveil $1.3 Billion Nasdaq-Listed Cancer Therapy Venture
Deal News | Apr 23, 2025 | Globenewswire
VERAXA Biotech AG, an innovative developer of cancer therapies, and Voyager Acquisition Corp., a special purpose acquisition company targeting the healthcare sector, have announced a business combination agreement. The transaction is expected to create a Nasdaq-listed biopharmaceutical company focused on developing next-generation cancer treatments including antibody-drug conjugates and T-cell engagers. The deal values VERAXA at a pre-money equity valuation of $1.3 billion, with an anticipated business combination closing in Q4 2025. VERAXA is actively raising a crossover financing round to support its growth, aiming to capitalize on its proprietary BiTAC platform that promises improved safety and efficacy in cancer therapies. The company's strategy includes pursuing strategic partnerships and licensing opportunities between 2025 and 2026. Key stakeholders include Xlife Sciences AG, a major shareholder, and several scientific and clinical experts guiding the company's innovation.
Sectors
- Biotechnology
- Healthcare
- Pharmaceuticals
Geography
- Switzerland – VERAXA Biotech AG is based in Zurich, Switzerland.
- United States – Post-merger, the combined entity plans to list on the Nasdaq stock exchange, implying significant US market involvement.
- Cayman Islands – Voyager Acquisition Corp., the SPAC, is a Cayman Islands exempted company.
Industry
- Biotechnology – The article focuses on VERAXA Biotech, a company involved in the biotechnological advances for cancer therapy.
- Healthcare – Voyager Acquisition Corp. is targeting the healthcare sector for strategic mergers and acquisitions.
- Pharmaceuticals – VERAXA is developing novel pharmaceutical treatments focusing on advanced cancer therapies.
Financials
- $1.3 billion – Pre-money equity valuation of VERAXA in the business combination.
- up to $253 million – Cash held in trust by Voyager available upon transaction closing, assuming no shareholder redemptions.
- approximately $1.64 billion – Expected pro forma equity value of the combined entity upon transaction closing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VERAXA Biotech AG | Target Company | Company | An emerging leader in the design of novel cancer therapies, focusing on antibody-drug conjugates and T-cell engagers. |
| Voyager Acquisition Corp. | Bidding Company | Company | A Cayman Islands-based special purpose acquisition company (SPAC) targeting the healthcare industry. |
| Xlife Sciences AG | Major Shareholder | Company | A Swiss-based life sciences incubator fund and major shareholder in VERAXA. |
| Anne Martina Group | M&A Advisor | Company | Serving as the sole M&A advisor to VERAXA in this transaction. |
| Duane Morris LLP | Legal Advisor to VERAXA | Company | Legal counsel representing VERAXA in the business combination. |
| Winston & Strawn LLP | Legal Advisor to Voyager | Company | Legal counsel representing Voyager in the business combination. |
| Christoph Antz, Ph.D. | CEO of VERAXA Biotech | Person | Leading the development and strategic direction of VERAXA. |
| Adeel Rouf | CEO of Voyager Acquisition Corp. | Person | Director and Chief Executive Officer of Voyager, overseeing its strategic mergers in the healthcare sector. |
| Oliver Baumann | Acting Chairman of the Board of VERAXA Biotech & CEO of Xlife Sciences | Person | Acting Chairman of VERAXA and CEO of Xlife Sciences AG, a significant stakeholder. |