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Nautilus Bio lines up SPAC merger and $350M in funding for proteomics R&D
Nautilus, among the biotechs developing protein analysis tools for drug discovery and diagnostics, already has a partnership with Genentech. As it prepares to go public, Nautilus aims to do for proteomics what Illumina did for genomics.
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Nautilus Biotechnology is joining the public markets through a merger that provides it with $350 million to ramp up work developing its protein analysis technology for drug discovery and diagnostic applications.
Seattle-based Nautilus is combining with Arya III, a special purpose acquisition company (SPAC), which is a publicly traded entity formed as a vehicle for other companies to go public. The combined company, which will be run by Nautilus’s management, will have a valuation of about $900 million. When the deal closes, Nautilus expects that its shares will trade on the Nasdaq under the stock symbol “NAUT.”
Oscar Health filed preliminary paperwork for an IPO on Friday. The health insurance startup is betting that its technology can give it an edge as it fights for market share with bigger competitors.
Verily joins with Janssen, adding Covid-19 to Project Baseline study
Verily and Janssen say studying Covid-19 immune responses could yield data that helps clinicians treat the disease. They add that the research could also apply to other illnesses caused by respiratory pathogens.
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When Verily unveiled $700 million in funding late last year, it said the cash would support its Covid-19 research. Some of those research plans are now taking shape.
Verily, the life sciences division of Google parent company Alphabet, is adding Covid-19 to Project Baseline, an expansive study collecting health data from thousands of patient volunteers and following them over time to create a comprehensive map of human health. The patient information contributes to a database that could offer insight into the biological drivers of health and illness.