AUM Biosciences to go public via SPAC deal

Following a Series A financing of $27 million a year ago, Singapore-based AUM Biosciences has entered into an agreement to merge with Mountain Crest Acquisition Corp (Nasdaq: MCAG), a publicly-traded special purpose acquisition company (SPAC).

AUM Biosciences is a clinical-stage biotechnology company, advancing a pipeline designed to deploy multi-faceted inhibition strategies to reverse cancer resistance.

On closing of the transaction, the combined company will operate under a holding entity to be formed as a Cayman Islands exempted company (Holdco) and intends to trade on the Nasdaq Stock Market under the ticker symbol AUMB.