Aprinoia SPAC Merger: Wilbur Ross Deal
Aprinoia, an Alzheimer’s drug developer, is poised to go public through a SPAC merger with Ross Acquisition Corp.II,backed by Wilbur Ross,according to teh latest updates from News Directory 3. This biotech deal values the combined entity at $280 million and aims to fund the commercialization of Aprinoia’s lead alzheimer’s drug, 18F-APN-1607, notably in China. Existing shareholders stand to gain significantly, possibly owning between 42% and 74% post-merger. The infusion of capital, including a $7.5 million convertible note from Ross, will accelerate clinical trials and regulatory approvals. For those invested in the primarykeyword of biotech and the secondarykeyword of SPAC deals, this represents a significant shift. Find out more about the company’s future plans. Discover what’s next for this cutting-edge Alzheimer’s treatment.
Aprinoia to Go Public in Merger with Wilbur ross-Backed SPAC
Updated May 28, 2025
Aprinoia, a Massachusetts-based drug developer focused on Alzheimer’s treatment, is set to merge with Ross Acquisition Corp. II, a special purpose acquisition company (SPAC) backed by Wilbur Ross, former U.S. Commerce Secretary. The deal marks one of the first biotech SPAC transactions of the year.
The agreement values Aprinoia and Ross Acquisition at a combined equity value of $280 million. Ross is investing $7.5 million through a convertible note, with a potential additional $12.5 million upon closing. The merger is anticipated to finalize in the first half of the year.
The infusion of capital is intended to advance Aprinoia’s primary product, 18F-APN-1607, through the commercialization phase in China. the company, currently listed on the NYSE, and Aprinoia have not yet persistent whether the merged entity will trade on the NYSE or Nasdaq.
Including debt, the enterprise value is estimated at $319.6 million. Current Aprinoia shareholders are projected to hold between 42% and 74% of the resulting company.
Aprinoia previously secured $40 million in Series C funding in 2021 and $11.1 million in Series B funding in January 2018. Ming-Kuei Jang, CEO, established the company in 2015 after previous roles at the University of Texas MD Anderson Cancer Center, GSK’s Shanghai facility, and Merck’s neurodegeneration research division in Boston.
What’s next
following the merger, the combined company will focus on advancing its Alzheimer’s drug candidate through clinical trials and regulatory approvals, particularly in the Chinese market.