Horizon Space Acquisition I (HSPOF) has signed a definitive business combination agreement with ArcheNova Biotech, a clinical-stage developer of exosome-based therapies. The proposed transaction would make both companies wholly owned subsidiaries of ArcheNova Technology through two mergers. Shareholders of both companies would receive ordinary shares of the combined company; HSPO warrants would convert into warrants for those shares on substantially the same terms.
Both boards unanimously approved the transaction. Closing is expected in the first quarter of 2027, subject to regulatory and shareholder approvals. The combined company's shares are expected to trade on Nasdaq after completion. ArcheNova's lead topical psoriasis program completed a Phase I trial in ten healthy volunteers and is being prepared for Phase II evaluation. Dr. Lim Sai Kiang would lead the combined company as CEO and chief scientist, with Liu Ye as CFO.