- The merger between VERAXA Biotech and Voyager Acquisition Corp (NASDAQ: VACH) is valued at $1.3 billion pre-money.
- The combined company will be listed on NASDAQ under the ticker symbol "VERX".
- The merger is expected to provide access to up to $253 million in cash held in trust and is anticipated to close in Q4 2025, subject to shareholder approval.
VERAXA Biotech and Voyager Acquisition Corp, a special purpose acquisition company (SPAC) listed on NASDAQ as VACH, have announced a definitive business combination agreement. This merger, valued at a pre-money equity value of $1.3 billion, aims to create a publicly traded biopharmaceutical company focused on developing next-generation cancer therapies.
The new entity will operate under the ticker "VERX" upon listing on NASDAQ. The transaction structure will allow VERAXA Biotech to access up to $253 million in cash held in trust, assuming no redemptions by public shareholders, which will help fund the development of their oncology pipeline.
VERAXA's proprietary BiTAC platform, which specializes in novel cancer therapies such as Antibody-Drug Conjugates (ADCs) and Bispecific T-cell Engagers (TCEs), is at the core of their innovative development strategies. Their pipeline includes nine programs, with VX-A901 already in Phase 1 trials targeting leukemia.
The transaction is slated to close by the fourth quarter of 2025, pending shareholder approval. Additionally, VERAXA is in the process of securing a crossover financing round expected to conclude before the merger, providing further capital to fuel its operational growth. Market projections estimate the TCE market could reach $112 billion and the ADC market $57 billion by 2030, highlighting the significant growth potential in these sectors.
