Biotech Acquisition Company - BIOT STOCK NEWS

Blade Therapeutics, a clinical-stage biopharmaceutical company, announced that Dr. Wendye Robbins will participate in the panel discussion "Drug Development in Pulmonary Medicine" on August 9, 2022, at the BTIG Biotechnology Conference in New York City. The company focuses on developing treatments for fibrotic and neurodegenerative diseases, with its lead drug, cudetaxestat, expected to enter phase 2 trials for idiopathic pulmonary fibrosis. Blade Therapeutics is positioned to deliver innovative therapies targeting key biological pathways integral to fibrosis and neurodegeneration.

Biotech Acquisition Company (NASDAQ: BIOT) and Blade Therapeutics have mutually agreed to terminate their Merger Agreement, effective immediately. This decision leads to the indefinite adjournment of the extraordinary general meeting initially set for June 14, 2022, where resolutions for the merger were to be considered. BAC will return any ordinary shares submitted for redemption to their respective holders. BAC remains focused on finding a suitable life-sciences partner to add value for shareholders, while Blade continues its development of treatments for fibrotic diseases.

Biotech Acquisition Company (NASDAQ: BIOT) has postponed its extraordinary general meeting of shareholders, initially set for June 3, 2022. The meeting aims to vote on a proposed business combination with Blade Therapeutics. While a sufficient number of BAC shareholders have approved the merger, the delay allows more time to fulfill necessary conditions for closing the transaction. The record date for eligible voters remains March 28, 2022, and shareholders will be notified of the new meeting date once determined.

Biotech Acquisition Company (NASDAQ: BIOT) has postponed its Extraordinary General Meeting until June 3, 2022, originally set for June 1. The meeting is crucial for shareholders to vote on proposals related to the proposed business combination with Blade Therapeutics. Currently, a sufficient number of shareholders have indicated approval for the merger. The delay aims to ensure all conditions for closing the merger are met. Shareholders were reminded of the record date of March 28, 2022, to determine eligibility for voting.

Biotech Acquisition Company (NASDAQ: BIOT) has submitted a prospectus supplement to the SEC regarding its proposed merger with Blade Therapeutics, Inc., a biotech firm focused on innovative treatments for fibrotic and neurodegenerative diseases. This follows the registration statement on Form S-4 filed earlier. The transaction, once completed, aims to leverage Blade’s promising drug pipeline, which includes novel therapies targeting significant health issues. This merger could position BAC favorably in the healthcare sector, aligning with the expertise of SPRIM Global Investments.

Blade Therapeutics announced promising preclinical results for cudetaxestat, an investigational drug aimed at treating idiopathic pulmonary fibrosis (IPF). The findings reveal cudetaxestat's direct anti-fibrotic effects in a lung fibrosis model and its ability to inhibit autotaxin non-competitively, maintaining potency in fibrotic conditions. The company is set to initiate a phase 2 clinical trial in Q2 2022, showcasing its commitment to advancing treatments for fibrotic diseases. Additionally, the drug has received orphan drug designation, emphasizing its potential significance in this therapeutic area.

Blade Therapeutics announced positive results from phase 1 studies of cudetaxestat, an investigational treatment for idiopathic pulmonary fibrosis (IPF). No significant drug-drug interactions were found with the approved therapies pirfenidone and nintedanib, and cudetaxestat was well tolerated with no serious adverse events reported. The company plans to initiate a phase 2 clinical trial in Q2 2022, assessing cudetaxestat as a monotherapy and in combination with existing IPF treatments. This research highlights the potential of cudetaxestat to enhance current therapies for IPF.

Biotech Acquisition Company (NASDAQ: BIOT) announced the effectiveness of its registration statement for a proposed business combination with Blade Therapeutics, Inc. Scheduled for June 1, 2022, at 10:00 a.m. Eastern Time, an Extraordinary General Meeting will allow shareholders to vote on the merger. Upon closing, the company will be renamed Blade Biotherapeutics, Inc. and will trade on Nasdaq under the symbols BBTX and BBTXW. Additionally, a committed equity facility of $75 million has been secured with Cantor Fitzgerald to bolster future capital needs.

Biotech Acquisition Company (NASDAQ: BIOT) has filed an amendment to its registration statement for the proposed merger with Blade Therapeutics, Inc. This follows their definitive merger agreement announced on November 8, 2021. The transaction aims to combine both entities, expected to close in Q2 2022, renaming the new entity Blade Biotherapeutics, Inc., traded under the symbol BBTX. The merger is backed by notable institutional investors including Deerfield Management and Pfizer Ventures, indicating confidence in market opportunities.