Jasper Therapeutics To List On NASDAQ Via SPAC Reverse Merger

Biotech firm, Jasper Therapeutics Inc, is planning to go public via a reverse SPAC merger deal with Amplitude Healthcare Acquisition Corp AMHC in a $100 million deal.
The combined company will be renamed Jasper Therapeutics Inc and its common stock is expected to be listed on NASDAQ under the ticker symbol “JSPR.”
The deal also comes with a PIPE financing of an additional $100 million, setting Jasper up with a $490 million market cap once the merger closes in the third quarter of this year.
Funds from the SPAC will be used to advance Jasper’s lead program, JSP191, and its stem cell platform.
JSP191 is a humanized CD117 monoclonal antibody in clinical development as a conditioning agent that clears hematopoietic stem cells from bone marrow, creating an empty space for the donor or gene-corrected transplanted stem cells to engraft.
It is currently enrolling in two clinical trials for acute myeloid leukemia (AML)/ myelodysplastic syndromes (MDS) and severe combined immunodeficiency (SCID).
It is scheduled to start enrollment in 3 additional studies in 2021 for severe autoimmune disease, sickle cell disease, and Fanconi anemia patients undergoing hematopoietic cell transplantation.
Price Action: AMHCU shares are up 3.68% at $10.42 during market trading hours on the last check Thursday.