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Aerovate Therapeutics And Privately-held Jade Biosciences Have Entered Into A Definitive Merger Agreement For An All-stock Transaction, The Resulting Entity Will Focus On Advancing Jade's Portfolio Of Biologics, Including JADE-001 For IgA Nephropathy

Author: Benzinga Newsdesk | October 31, 2024 06:23am

Merger to create a company focused on advancing Jade Biosciences' portfolio of novel therapies that aim to redefine the standard of care for patients with autoimmune diseases
Jade Biosciences, the fourth company founded on assets licensed from Paragon Therapeutics, expects to initiate a clinical trial for JADE-001 in the second half of 2025
Approximately $300 million raised to date, including anticipated proceeds from an oversubscribed pre-closing private financing, expected to fund operations through 2027
Upon completion of the merger, the combined company plans to operate under the name Jade Biosciences and trade on Nasdaq under the ticker symbol "JBIO."

Posted In: AVTE