KUALA LUMPUR (Jan 10): Few may pay much attention to Genting Bhd s life-sciences division. However, the biotech unit could be reaping its fruits via listing, after it merges with NASDAQ-listed GX Acquisition Corp to form a special purpose acquisition company (SPAC) in an attempt to create a publicly-listed leader in allogeneic cellular therapy.
This would also represent the first major monetisation in Genting’s life-sciences division.
On Friday, Celularity signed a definitive merger agreement with GX Acquisition Corp, of which the companies are planning to take it public by the second quarter of 2021, subject to approval of both Celularity and GX’s shareholders.