Abpro To Become Publicly Traded Via Merger With Atlantic Coastal Acquisition Corp. II
Portfolio Pulse from Benzinga Newsdesk
Biotechnology company Abpro is set to become publicly traded through a merger with Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB). The deal values Abpro at $725 million and will help advance its drug pipeline to clinical trials. Abpro is currently developing next-generation antibody therapies for various diseases, including HER2+ cancer treatments and treatments for Wet AMD/DME and COVID-19.
September 21, 2023 | 8:00 pm
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Atlantic Coastal Acquisition Corp. II is merging with Abpro, a biotechnology company. The deal values Abpro at $725 million and will help advance its drug pipeline to clinical trials.
The merger with Abpro could potentially increase the value of Atlantic Coastal Acquisition Corp. II as it brings a promising drug pipeline into the company. The deal also signifies a strategic move into the biotechnology sector, which could attract new investors.
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