Healthwell Acquisition Corp. I - HWELU STOCK NEWS

Healthwell Acquisition Corp. I (Nasdaq: HWEL) announced the termination of its Business Combination Agreement with Starton Therapeutics, Inc. The closing conditions were not met by the outside date of November 3, 2023, and Healthwell will now pursue an alternative business combination.

Starton Therapeutics Inc. has terminated its business combination agreement with Healthwell Acquisition Corp. The conditions for closing the agreement were not met or waived by the deadline. The termination will not affect certain specified provisions in the agreement. Starton has initiated its Phase 1b STAR-LLD clinical trial in multiple myeloma and remains committed to completing the study.

Healthwell Acquisition Corp. I (NASDAQ: HWEL) has postponed its special meeting of stockholders to approve its proposed business combination with Starton Therapeutics, Inc. The new meeting date is October 25, 2023. Stockholders are encouraged to vote before October 24, 2023. Redemption rights are also available.

Starton Therapeutics announces dosing of first patient in Phase 1b clinical trial for low-dose lenalidomide in multiple myeloma treatment.

Gabrail Cancer & Research Center activated as the first site in Starton's clinical trial, accelerating their program timeline. Dr. Gabrail believes in the importance of clinical trials for cancer patients. GCC has a national reputation for excellence in patient care and attracts patients nationally and internationally. Dosing expected to begin in the coming weeks.

Starton Therapeutics has received FDA approval to proceed with its Phase 1b study of continuous delivery lenalidomide in multiple myeloma. The study will evaluate the combination of STAR-LLD, Velcade, and dexamethasone in second-line transplant-ineligible patients.

Starton Therapeutics has announced a definitive business combination agreement with Healthwell Acquisition Corp. I (HWEL) to facilitate Starton’s transition to a publicly traded entity. Post-transaction, the combined entity is projected to have an enterprise value of $339 million and equity value of $374 million. Starton anticipates $50 million in net proceeds from the transaction to fund future clinical trials, including its lead program STAR-LLD targeting hematologic cancers. The transaction is expected to close in the second half of 2023, subject to shareholder approval. With innovative proprietary continuous delivery technology, Starton aims to enhance treatment efficacy and tolerability for cancer patients, potentially transforming blood cancer therapies.