March 18, 2022
SAN CARLOS, CA, and NEW YORK, NY, March 18, 2022 – Apexigen, Inc., a clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology, and Brookline Capital Acquisition Corp. (Nasdaq: BCAC, BCACU, BCACW), a special purpose acquisition company (“SPAC”), today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, Brookline Capital Acquisition Corp. will be renamed Apexigen, Inc. (the “Combined Company”) and expects to list its stock on Nasdaq under the ticker symbol “APGN”.
Healthcare institutional investors and insiders will commit $15 million through a private investment in public equity (“PIPE”) and Lincoln Park Capital has committed to purchase up to $50 million of common stock. Proceeds will go toward advancing the Phase 2 development of Apexigen’s lead asset, sotigalimab, a CD40 agonist antibody with first-in-class and best-in-class potential. The merger is expected to be completed in July 2022 and will be led by Xiaodong Yang, M.D.,Ph.D., President and Chief Executive Officer of Apexigen.
Full press release is here.