SPAC deal shows drug pricing disruptor means business

9 August 2021
eqrx_large-1

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.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Pharmaceutical