EQT Life Sciences portfolio company NewAmsterdam Pharma to go public
EQT Life Sciences' portfolio company NewAmsterdam Pharma is merging with Frazier Lifesciences Acquisition Corporation to become a publicly traded entity on Nasdaq, with plans to raise over $235 million.
EQT Life Sciences has announced that its portfolio company, NewAmsterdam Pharma, is merging with Frazier Lifesciences Acquisition Corporation (FLAC).
The combined entity, NewAmsterdam Pharma Company N.V., is expected to secure at least $235 million through a private investment in public equity (PIPE). This investment was reportedly oversubscribed, exceeding the initial target of $100 million due to significant investor demand.
Proceeds from the transaction, along with funds from a recent licensing agreement and existing cash, are expected to bring NewAmsterdam's pro forma cash balance to at least $470 million. This capital is intended to fund operations through 2026, covering key clinical trial readouts.
NewAmsterdam's lead therapeutic candidate, obicetrapib, is an oral therapy for cardiometabolic diseases. The newly formed company is slated to list on the Nasdaq stock exchange under the ticker symbol 'NAMS'.