NewAmsterdam Pharma Holding, a company focused on oral therapy development, has merged with Frazier Lifesciences Acquisition Corporation, a SPAC sponsored by Frazier Healthcare Partners.
NewAmsterdam will receive $235 million from a PIPE led by Frazier Healthcare and Bain Capital Life Sciences.
“We believe that the transaction, if consummated, would provide us with the necessary capital to fund our business through 2026 and beyond multiple Phase 3 data readouts for obicetrapib, including our ongoing cardiovascular outcomes trial,” said Michael Davidson, CEO of NewAmsterdam. “We are grateful to the FLAC team for their support throughout this transaction and look forward to a continued partnership as we mature into a publicly traded company and pursue our mission of improving patient care globally for this large patient population with substantial unmet need despite existing therapies.”
Credit Suisse Securities is acting as lead PIPE placement agent, financial advisor and capital markets advisor to FLAC. Jefferies LLC, SVB Securities LLC, and William Blair & Company are serving as PIPE placement agents to FLAC. SVB Securities LLC is acting as financial and capital markets advisor to the NewAmsterdam. Moelis & Co. is also acting as financial advisor to the NewAmsterdam, and Covington & Burling LLP is acting as legal counsel. Goodwin Procter LLP is acting as legal counsel to FLAC. Kirkland & Ellis LLP is acting as legal counsel to the PIPE placement agents.