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Longevity Biomedical and FutureTech II Acquisition Corp (NASDAQ: FTII) have announced a business combination to create a Nasdaq-listed biopharmaceutical company focused on advancing technologies for human health and longevity. The combined company will operate as Longevity Biomedical and list under the ticker symbol 'LBIO'.
Longevity Biomedical has a late-stage, diversified pipeline of therapeutic candidates across ophthalmology, cardiovascular disease, and soft tissue reconstruction. Key milestones include:
- Phase 3 start for LBI-201 (ischemic stroke)
- Phase 2 data for LBI-101 (soft-tissue reconstruction)
- Phase 2 start for LBI-001 (retinal vein occlusion)
The transaction, expected to close in Q4 2024, will provide $26.8 million from FutureTech's trust to fund clinical development. The company aims to become a leading provider of longevity-related products and services for the growing aging population.
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