Silexion, A Clinical-Stage, Oncology-Focused Biotechnology Company, To Become Publicly Traded Via Business Combination With Moringa Acquisition Corp
Portfolio Pulse from Benzinga Newsdesk
Moringa Acquisition Corp (NASDAQ:MACA) announced a business combination with Silexion Ltd., a clinical-stage oncology-focused biotech company. Silexion's Loder™ showed a 9.3-month median OS advantage in a Phase 2a trial for pancreatic cancer. The merger, valuing Silexion at $62.5 million, is expected to close in Q3 2024, subject to approvals. The combined company will be listed on Nasdaq, with Moringa issuing 6.25 million shares to Silexion's equity holders.
February 22, 2024 | 1:31 pm
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Moringa Acquisition Corp (NASDAQ:MACA) is set to merge with Silexion Ltd., aiming to bring Silexion's oncology-focused treatments to the public market. The deal values Silexion at $62.5 million and is expected to close in Q3 2024.
The merger with Silexion, a company with a promising oncology product, is likely to be viewed positively by investors due to the potential market impact of Loder™. The valuation of $62.5 million for Silexion suggests a significant investment in the future potential of its treatments. The expected closing in Q3 2024 and the subsequent listing on Nasdaq could lead to increased investor interest and potentially a positive impact on MACA's stock price in the short term.
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