SPAC deal shows drug pricing disruptor means business
A self-styled pioneer that promises to develop and deliver innovative medicines to patients at radically lower prices, is to raise up to $1.8 billion via a combination with special purpose acquisition company (SPAC) CM Life Sciences III, as it looks to accelerate its growth.
EQRx is the latest to raise funds through a fashionable SPAC deal, and in doing so expands its balance sheet to around $2 billion. This will be used to achieve its drug price disrupting mission through unique partnerships with leading payers and healthcare providers.
"We are moving rapidly toward the potential commercialization of our lead oncology programs while continuing to grow our pipeline to address the high-cost disease areas of today and in the future"Alexis Borisy, chairman and chief executive of EQRx, said: “EQRx is new pharma, leading the way in how we develop and price innovative medicines.
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