BioPharma Dive January 26, 2026
The prolific “crossover” investor is aiming for its third blank-check merger since 2022 following deals with Moonlake Immunotherapeutics and BridgeBio Oncology Therapeutics.
Dive Brief:
- A blank-check entity formed by biotechnology investor Cormorant Asset Management has raised $150 million in an initial public offering meant to support a future merger with a privately held company.
- The special purpose acquisition company or “SPAC,” called Helix Acquisition Corp. III, sold 15 million shares at $10 apiece, some 2.5 million more shares than it had previously projected. It began trading on the Nasdaq stock exchange Friday under the ticker symbol “HLXC.” Helix doesn’t have a merger target just yet, nor has it engaged in any related talks. But it does intend to...
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