Healthwell Acquisition I (HWEL) Stock News, Apr 27, 2023

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.