VERAXA Biotech and Voyager Announce Business Combination for Nasdaq Listing
Deal News | Apr 23, 2025 | Globenewswire
VERAXA Biotech, an emerging leader in next-generation cancer therapies, has announced a business combination with Voyager Acquisition Corp, a special purpose acquisition company. This merger is set to create a NASDAQ-listed biopharmaceutical company with a robust pipeline of novel cancer therapies, leveraging TECH's BiTAC platform. VERAXA plans to list on the NASDAQ under the ticker symbol VERX and expects to complete the business combination by the fourth quarter of 2025. The transaction values VERAXA at a pre-money equity value of approximately $1.3 billion. VERAXA's innovative therapies, including antibody-drug conjugates and T-cell engagers, aim to advance cancer treatment significantly by improving safety and efficacy profiles. The company, which is pursuing multiple strategic partnerships and licensing opportunities, is actively involved in a crossover financing round intended to boost capital for growth and operational purposes.
Sectors
- Biotechnology
- Healthcare
- Finance
Geography
- United States of America – The merger will result in a NASDAQ-listed company, indicating a significant U.S. financial market involvement.
- Switzerland – VERAXA Biotech has ties to Switzerland through its major shareholder, Xlife Sciences AG, a Swiss entity.
Industry
- Biotechnology – This industry is relevant due to VERAXA Biotech's focus on biotechnological innovations, including next-generation antibody-based therapeutics.
- Healthcare – The article primarily discusses advancements in cancer treatment, a crucial aspect of the healthcare industry.
- Finance – The announcement involves a financial transaction and strategic business combination valued at $1.3 billion.
Financials
- 1.3 billion USD – Pre-money equity value of VERAXA in the business combination agreement.
- 10.00 USD – Assumed share price in the transaction.
- 1.64 billion USD – Implied pro forma equity value of the combined company at closing.
- 253 million USD – Cash held in trust by Voyager, accessible to VERAXA upon closing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VERAXA Biotech AG | Target Company | Company | A biotech company specializing in next-generation cancer therapies. |
| Voyager Acquisition Corp. | Bidding Company | Company | A special purpose acquisition company targeting the healthcare sector. |
| Xlife Sciences AG | Stakeholder | Company | Swiss-based life science incubator fund and major shareholder in VERAXA. |
| Anne Martina Group | M&A Advisor | Company | Serves as sole M&A advisor to VERAXA. |
| Duane Morris LLP | Legal Advisor to VERAXA | Company | Providing legal counsel in the merger. |
| Winston & Strawn LLP | Legal Advisor to Voyager | Company | Serving as legal counsel to Voyager Acquisition Corp. |