Starton Therapeutics scraps SPAC deal that would have taken it public, brought in $50M

Star­ton Ther­a­peu­tics, which had planned to go pub­lic this year in a SPAC merg­er, said Fri­day that the $50 mil­lion deal an­nounced in April has been ter­mi­nat­ed.

New Jer­sey-based Star­ton was sup­posed to com­bine with Health­well Ac­qui­si­tion Corp. I in a SPAC deal that would have giv­en the biotech about $50 mil­lion, put it on the Nas­daq, and set up the com­bined com­pa­ny to have an eq­ui­ty val­ue of $374 mil­lion.

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