VERAXA Biotech to Merge with Voyager Acquisition Corp. for Nasdaq Listing
Deal News | Apr 23, 2025 | EIN
VERAXA Biotech AG, a Zurich-based company pioneering next-generation cancer therapies, has entered into a business combination agreement with Voyager Acquisition Corp., a Cayman Islands special purpose acquisition company. This strategic merger is designed to facilitate VERAXA’s transformation into a NASDAQ-listed entity under the ticker VERX, with the completion expected by Q4 2025. The merger, valuing VERAXA at approximately $1.3 billion pre-money, involves issuing 130 million shares to existing VERAXA shareholders, with potential access to $253 million in Voyager’s trust at closing. Central to VERAXA’s offering are their proprietary BiTAC platforms, with key projects including novel ADCs and TCEs, intended to expand the therapeutic window for cancer treatments through increased safety and efficacy. VERAXA is backed significantly by Xlife Sciences AG and guided by a seasoned leadership and advisory team. The business combination is strategic, addressing increasing demand in the cancer therapy market projected to grow significantly by 2030. Advisors to the deal include the Anne Martina Group for M&A advising, alongside legal counsel from Duane Morris LLP for VERAXA and Winston & Strawn LLP for Voyager.
Sectors
- Biotechnology
- Healthcare
Geography
- Switzerland – VERAXA Biotech is headquartered in Zurich, Switzerland, and is a significant player in the region's biotech innovation landscape.
- United States – The merger will result in the listing of the new entity on NASDAQ, reflecting significant operating interest in the US market.
Industry
- Biotechnology – VERAXA Biotech AG operates in the biotechnology sector, focusing on the development of next-generation antibody drug conjugates and bispecific T-cell engagers for cancer therapies.
- Healthcare – Voyager Acquisition Corp. targets the healthcare sector, seeking to facilitate advancements through strategic mergers and acquisitions.
Financials
- 1.3 Billion USD – Pre-money equity value of VERAXA in the business combination.
- 253 Million USD – Cash held in trust by Voyager, accessible upon closing of the business combination.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VERAXA Biotech AG | Target Company | Company | A biotechnology company creating next-generation cancer therapies. |
| Voyager Acquisition Corp. | Bidding Company | Company | A special purpose acquisition company focused on mergers in the healthcare sector. |
| Xlife Sciences AG | Major Shareholder | Company | A Swiss life science incubator fund and one of VERAXA's major investors. |
| Anne Martina Group | M&A Advisor | Company | M&A advisors for VERAXA in this transaction. |
| Duane Morris LLP | Legal Advisor | Company | Legal counsel to VERAXA. |
| Winston & Strawn LLP | Legal Advisor | Company | Legal counsel to Voyager Acquisition Corp. |
| European Molecular Biology Laboratory (EMBL) | Technology Contributor | Company | Provided scientific breakthroughs that underlie VERAXA's technology platform. |