Addimmune to go public via SPAC deal with 10X III

USA-based American Gene Technologies International (AGT) and 10X Capital Venture Acquisition Corp III (10X III; (NYSE: VCXB), a special purpose acquisition company (SPAC), have entered into a merger agreement for a business combination that would result in the combined company being a publicly listed company following the business combination to be renamed Addimmune, which is expected to trade under the ticker symbol “HIV”.

Addimmune is a clinical-stage gene and cell therapy company developing a functional cure for HIV. Prior to the combination, the non-HIV assets will spin-off into an entity that will retain the American Gene Technologies name.

10X III and AGT have entered into a non-binding letter of intent with CF Principal Investments, an affiliate of Cantor Fitzgerald & Co, an underwriter of 10X III’s initial public offering, with respect to a $50 million committed equity facility.