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BridgeBio Oncology Therapeutics (NASDAQ:BBOT) has successfully completed its business combination with Helix Acquisition Corp. II, debuting as a public company on August 11, 2025. The transaction includes a $261 million PIPE investment and approximately $120 million from Helix's trust, resulting in total gross proceeds of $382 million.
The company, focused on RAS-pathway malignancies, will have approximately $490 million in total cash post-transaction. BBOT's pipeline includes three clinical-stage candidates: BBO-8520 for KRASG12C mutant lung cancer, BBO-10203 for various cancer types including breast and colorectal cancer, and BBO-11818 for KRAS mutant solid tumors.
The SPAC merger achieved a notably low redemption rate of 39%, the second-lowest for a biotech de-SPAC since 2022, demonstrating strong investor confidence. Trading will commence on Nasdaq under ticker "BBOT" on August 12, 2025.
[ "Raised substantial capital with $382 million in gross proceeds from SPAC merger and PIPE", "Achieved second-lowest redemption rate (39%) for biotech de-SPAC since 2022, indicating strong investor confidence", "Strong cash position of $490 million post-transaction", "Backing from premier institutional investors including Cormorant, Deerfield, Wellington Management", "Three clinical-stage drug candidates targeting major cancer pathways" ]FAQ
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