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Minovia Therapeutics and Launch One Acquisition Corp. (NASDAQ:LPAA) have announced a definitive business combination agreement to create a Nasdaq-listed mitochondrial therapy company. The combined entity, to be named Mito US One Ltd., will focus on commercializing Mitochondrial Augmentation Technology (MAT) platform.
The transaction assigns Minovia a $180 million pre-money valuation, with potential additional shares worth $57.5 million as earnout. Launch One's trust holds $239.7 million, and the parties anticipate at least $18 million in PIPE investments. The deal is expected to close in Q4 2025.
Minovia's lead product, MNV-201, has FDA Fast Track and Rare Pediatric Disease designations. The company has treated 23 patients across various conditions, showing promising results in increasing body weight, mobility, and kidney function, with no drug-related adverse effects.
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