Simpson Thacher Represents Placement Agents in Private Placement in Connection With the Merger of Blade Therapeutics and Biotech Acquisition Company (BAC)
11.10.21
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Simpson Thacher represented the placement agents in connection with a private investment in public equity (PIPE) financing of $24.3 million of BAC common stock by institutional investors as part of the entry by Blade Therapeutics, Inc. (“Blade”) into a definitive merger agreement with Biotech Acquisition Company, a special purpose acquisition company, that will result in Blade becoming a publicly listed company. Upon the closing of the transaction, the combined company will be renamed Blade Biotherapeutics, Inc., and is expected to be listed on Nasdaq under the symbol “BBTX.”
Blade is a biopharmaceutical company focused on developing cutting-edge treatments for debilitating, incurable fibrotic and neurodegenerative diseases that impact millions of people worldwide. Blade expects to advance a differentiated pipeline of oral, small-molecule therapies that include a non-competitive autotaxin inhibitor and inhibitors of dimeric calpains designed for potential treatment of lung, liver and cardiac fibrosis or neurodegenerative diseases.
The Simpson Thacher team included Risë Norman and Arielle L. Katzman (Capital Markets); and Vanessa Burrows (Healthcare).