Apollomics, a US-China Biopharma, will Merge with SPAC to List on NASDAQ Exchange

Apollomics, a Foster City-Hangzhou oncology company, has agreed to merge with Maxpro Capital Acquisition, a special acquisition company formed to take a company public. Apollomics is developing a pipeline of nine clinical, pre-clinical and discovery stage drug candidates for patients with difficult-to-treat cancers, including products for lung cancer and leukemia. The agreement implies a market value of $899 million for Apollomics, which will retain up to $105 million of cash. Existing Apollomics shareholders will own 87% of the new entity’s stock after the closing, expected to occur during the first quarter of 2023. More details....

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