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Science 37, Inc., the Los Angeles, CA-based developer of the Decentralized Clinical Trial Operating System™, and LifeSci Acquisition II Corp. (NASDAQ: LSAQ), a blank check company targeting the biopharma, medical technology, digital health and healthcare services sectors, entered into a definitive business combination agreement.
Upon closing of the proposed transaction, the combined company will operate as Science 37 and is expected to be listed on the NASDAQ under the ticker symbol “SNCE”.
The proposed transaction values Science 37 at an initial enterprise value of approximately $1.05 billion and will provide the combined company with approximately $250 million of cash (assuming no redemptions from LifeSci’s trust account), to fuel continued growth.
Search jobs 07-May-2021 Science 37 to Become Publicly Listed via Merger with LifeSci Acquisition II Corp., Powering the Clinical Trial Operating System of the Future
Transaction values Science 37 at an enterprise value of approximately $1.05 billion at closing
Positions Science 37 with a balance sheet of up to $250 million to fund its decentralized trial technology platform, extend into new adjacencies, and power the next generation in clinical research
$80 million via LifeSci Acquisition II Corp., a special purpose acquisition company with no public warrants
$200 million via fully committed and upsized PIPE from leading institutional and strategic investors including Redmile Group; funds and accounts managed by BlackRock; Casdin Capital; dRx Capital (Novartis Pharma AG); LifeSci Venture Partners; Lux Capital; Mubadala Capital, the asset management arm of Mubadala Investment Company; Perceptive Advisors; PPD; Pura Vida Investments;