Amicus Therapeutics and ARYA Sciences call off SPAC deal

ARYA Sciences Acquisition Corp IV (Nasdaq: ARYD), a publicly traded special purpose acquisition company (SPAC) sponsored by Perceptive Advisors, announced on Thursday that, due to existing market conditions, it has mutually agreed with Amicus Therapeutics (Nasdaq: FOLD) terminate their previously announced business combination agreement, effective immediately.

“While this is not the outcome we had hoped for, ARYA IV still has over a year remaining to identify and execute on a business combination transaction and the ARYA IV team believes it is well positioned to identify and execute on an opportunity that meets its key investment criteria and that can deliver value for its shareholders within that time period,” said Adam Stone, chief executive ARYA IV.

ARYA IV’s dissolution deadline is March 2, 2023 (unless such date is extended in accordance with ARYA IV’s governing documents).