By Karen Roman
Biotechnology company Medera Inc. said it entered a definitive merger agreement with Keen Vision Acquisition Corp. (Nasdaq: KVAC), with the combined company having an implied initial enterprise value of approximately $622.6 million.
The transaction will close in the fourth quarter and the combined company will be called Medera Inc., both firms said in a statement.
Medera is expected to have $40 million or more in available liquidity as part of the closing conditions for the business combination, they stated.
“Achieving a Nasdaq listing will allow Medera to be better positioned for advancing our various clinical and preclinical programs, enabling more efficient development aimed at bringing novel therapeutic solutions to patients with unmet needs,” stated Ronald Li, PhD, CEO and Founder of Medera.
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