Longevity Biomedical, an American biopharmaceutical company, will go public through a merger with Denali Capital Acquisition Corp., a special purpose acquisition company.

The combined entity with a pro forma equity valuation of approximately $236.2 million, will operate as Longevity Biomedical, Inc. and is expected to list on Nasdaq.

Longevity Biomedical develops and acquires new technologies ranging from therapeutics, health monitoring to digital health solutions to restore tissue form and function.

Under the agreement, Longevity Biomedical will acquire clinical stage technologies such as LBI-201, a non-invasive ultrasonic device, LBI-001, a potential retinal vein occlusion treatment, LBI-101, an off-the-shelf allogenic tissue biomaterial, LBI-002, a biosynthetic cornea.

Bradford A Zakes — Longevity Biomedical CEO said: “This business combination will provide the platform to advance cutting-edge technologies spanning multiple areas of unmet medical need for the aging population.

“The proceeds from this transaction will allow Longevity to reach significant clinical development milestones for our four leading technologies that have demonstrated successful results in clinical studies.”

The combined entity will have estimated cash proceeds of Denali Capital Acquisition Corp.’s $85.4 million, which will be used for a phase 3 study for LBI-201, a phase 2 study for LBI-001, a phase 2 study followed by the start of a phase 3 study for LBI-101. Besides, the proceeds will be used towards LBI-002’s formulation and pre-clinical studies.

Lei Huang — Denali Capital Acquisition Corp. CEO said: “Longevity is acquiring a deep portfolio of health technologies and has an experienced leadership team with a visionary approach to addressing human health span.

“In addition to advancing these current late-stage technologies, the Company will be opportunistic in its efforts to bring the latest in human health advances to aging populations globally.”

Prior to the business combination agreement, Longevity Biomedical entered into agreements with Cerevast Medical, Aegeria Soft Tissue, and Novokera to acquire all of the issued and outstanding equity securities of these company in exchange for shares of the biopharma company.

The transaction is expected to close in the second quarter of 2023, subject to the approval of the shareholders of Denali Capital Acquisition Corp. and Longevity Biomedical as well as other customary closing conditions including certain SEC regulatory approvals.

  Aegeria Soft Tissue, Bradford A Zakes, Cerevast Medical, Denali Capital Acquisition, Lei Huang, Longevity Biomedical, Novokera, retinal vein occlusion, USA