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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.
Blade Therapeutics has received FDA feedback to advance its investigational drug, cudetaxestat, into a 26-week phase 2 clinical trial targeting patients with idiopathic pulmonary fibrosis (IPF). The trial is set to launch in Q2 2022, pending preclinical toxicology studies. This study will assess the safety and efficacy of cudetaxestat administered alone or with approved therapies. With orphan drug designation, cudetaxestat aims to address unmet needs in fibrotic disease treatment. Blade's merger with Biotech Acquisition Company is also progressing, potentially enhancing their market capabilities.
Blade Therapeutics will present three posters featuring data on cudetaxestat, an investigational drug for idiopathic pulmonary fibrosis (IPF), at the American Thoracic Society (ATS) 2022 International Conference from May 13-18, 2022. The presentations include findings from a phase 1 clinical study of cudetaxestat's interaction with approved IPF medications, including pirfenidone and nintedanib. The data aims to enhance understanding of safety, tolerability, and drug-drug interactions, which are critical for advancing treatment options for IPF and other fibrotic diseases.
On March 16, 2022, Biotech Acquisition Company (NASDAQ: BIOT) announced the public filing of a registration statement on Form S-4 with the SEC regarding its proposed merger with Blade Therapeutics, Inc. A definitive merger agreement was previously announced on November 8, 2021. The combined entity will be named Blade Biotherapeutics, Inc., and listed on Nasdaq as 'BBTX.' The transaction is supported by notable institutional investors, including Deerfield Management and Pfizer Ventures, with an initial IPO raising $230 million.
Blade Therapeutics, a biopharmaceutical company specializing in treatments for fibrotic and neurodegenerative diseases, announced that CEO Wendye Robbins will present at two investor conferences in March 2022. The events include Oppenheimer’s 32nd Annual Healthcare Conference on March 15 at 8:40 a.m. ET (virtual) and the Barclays Global Healthcare Conference on March 16 at 3:50 p.m. ET in Miami. Live and archived presentations can be accessed via Blade's website. Additionally, Biotech Acquisition Company (NASDAQ: BIOT) is set to merge with Blade, leading to the rebranding as Blade Biotherapeutics, Inc.
Blade Therapeutics announced positive results from a phase 1 clinical study of cudetaxestat, a non-competitive autotaxin inhibitor. The study showed that cudetaxestat was well tolerated with no serious adverse events reported during co-administration with approved IPF therapies, pirfenidone and nintedanib. Blade plans to submit data to the FDA in Q1 2022 and advance to a phase 2 study for idiopathic pulmonary fibrosis (IPF) in Q2 2022. Cudetaxestat has received orphan drug designations for IPF and systemic sclerosis, indicating a promising treatment avenue.
Biotech Acquisition Company (NASDAQ: BIOT) announced a confidential submission to the SEC on December 27, 2021, for a draft registration statement regarding its merger with Blade Therapeutics, Inc. Blade is focused on developing therapies for fibrotic and neurodegenerative diseases. BAC raised $230 million in its IPO in January 2021, aiming to merge with a company in the healthcare sector. The Transaction's proxy statement will be filed with the SEC, detailing the merger's terms and implications for shareholders.
Blade Therapeutics has reported positive topline data from a Phase 1 clinical study of cudetaxestat, a non-competitive autotaxin inhibitor, indicating a favorable safety profile and no significant drug-drug interactions with CYP450 substrates. The study supports the initiation of a Phase 2 trial in idiopathic pulmonary fibrosis (IPF) planned for H1 2022. The drug received orphan designation from the FDA for systemic sclerosis. Blade’s focus on innovative therapies for fibrotic conditions highlights its potential in a critical market segment.
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