A new heavyweight advanced digital health solutions company is being assembled from a team-up between a top company in the space and a SPAC powerhouse. Washington state based-Longevity Biomedical has entered a definitive business combination agreement with blank-check company Denali Capital Acquisition to form a combined company. Equity valuation puts the price tag of the deal at approximately $236.2 million.
The agreement, which entails Longevity Biomedical retaining its name, will see the new company dial in on advancing new tech for enhancing human health and — you guessed it — longevity. The combo entity has desires to step into a leadership role in the world of advanced therapeutics and digital health tech. Its solutions will mostly crop up over time in the form of solutions for restoring tissue form and function, building on Longevity’s existing late-stage technologies platform while also augmenting its portfolio with new tech, products, and services.
Bradford Zakes, the President and Chief Executive Officer of Longevity Biomedical, 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.”