Humacyte Set to Go Public, Raise $175 Million from Top-tier Investors
Durham-based Humacyte, a regenerative medicine company that received start-up support from the North Carolina Biotechnology Center 15 years ago, is going public in a novel deal that will give it a market capitalization of $1.1 billion.
Humacyte and Alpha Healthcare Acquisition Corp., a special purpose acquisition company (SPAC) based in New York, have signed a business-combination agreement to take Humacyte public, along with a $175M PIPE financing agreement.
“We are very pleased to have support from top-tier investors and access to the U.S. capital markets following the closing of this proposed transaction, which will leave Humacyte well-capitalized to provide first-in-class therapies to treat several life-threatening diseases,” Laura Niklason, M.D., Ph.D., founder and chief executive officer of Humacyte, said in a prepared statement.
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Alpha Healthcare Acquisition (NASDAQ:AHAC), a special purpose acquisition company (SPAC), is being acquired by privately held Humacyte in a reverse-merger. Humacyte is a world leader in the field of regenerative medicine. The deal is expected to close in the second quarter; the new company will trade on the NASDAQ under the ticker HUMA.