Hambro Perks Acquisition Company, the first SPAC to list in London in the wake of regulatory changes, is in advanced talks to merge with drug developer Istesso, Sky News learns.
The first ‘blank cheque’ company to list in London after an overhaul aimed at helping the City compete with rival financial centres is in talks to merge with a privately owned drugs group developing treatments for chronic diseases.
Founded in 2017, Istesso focuses on an area of medicine called immunometabolism, and is developing treatments for severe diseases such as arthritis and multiple sclerosis. Istesso is majority-owned by IP Group, the London-listed company which focuses on commercialising intellectual property across sectors such as energy and healthcare.
The SPAC, which raised nearly £150m from its initial public offering, had 15 months to secure a deal, meaning it faces a deadline next month to announce the merger or seek an extension from shareholders.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
London borough plans to ban most vehicles from 75% of its roads in crackdownHackney Council has announced plans to expand its Low Traffic Neighbourhoods, which will ban most road traffic from 75% of the borough's roads.
Read more »
London Mayor Sadiq Khan is now in Minecraft helping to redesign CroydonLondon Mayor Sadiq Khan has been immortalised in block form as part of a Minecraft Education challenge to redesign Croy…
Read more »
Murder investigation after young musician ambushed and killed yards from his west London homeA murder investigation has been launched after young musician Fernando Johnson - known as Fdot - was killed following an ambush just yards from home in west London
Read more »
Man charged with assaulting Matt Hancock on London UndergroundBritish Transport Police (BTP) said Geza Tarjanyi, 61, has been accused of common assault and two public order offences.
Read more »
Madonna adds fifth London date to world tour after selling 600,000 ticketsMadonna has now added a fifth London date to her world tour 🙌
Read more »
Banker makes £7,000 renting out two parking spaces next to his London flatA banker has managed to make £7,000 renting out two unused parking spaces at his home in Dalston, east London.
Read more »