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Matter handles Abpro, a biotechnology company that develops antibody therapies to treat cancers, as it merges with Atlantic Coastal Acquisition Corp. in a SPAC deal worth $725M.
Ian Chan, CEO & co-founder of Abpro, said the SPAC represents a milestone for the Woburn, MA-based company.
Proceeds from the transaction will help “accelerate the advancement of our pipeline toward clinical trials and provide the foundation for ongoing development of novel immunotherapies to help patients,” said Chan.
Abpro is currently in the developmental stage with its HER2+ treatments for breast, gastric and colorectal cancers.
It also has a partnership with South Korea’s Celltrion pharmaceutical company. Celltrion has made an equity investment in Abpro.
The SPAC deal is expected to close in Q2 2024.
Matter’s Deanna Meservey handles Abpro.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
