Swiftmerge Acquisition said it signed a non-binding letter of intent for a business combination with HDL Therapeutics, a privately held commercial stage biotech company.
HDL has an FDA-approved cardiovascular therapy for reducing coronary atheroma in homozygous familial hypercholesterolemia patients. HDL Therapeutics' platform removes the highest risk plaques in coronary arteries that tend to rupture causing heart attacks and stroke, according to a press release.
Under terms of the LOI, Swiftmerge and HDL Therapeutics would become a combined entity, with HDL Therapeutics' existing equity holders rolling 100% of their equity into the merged company. Swiftmerge expects to announce additional details regarding the proposed business combination when a definitive merger agreement is executed, which is expected in the second quarter. The SPAC holds about $225 million in trust. Read more.
Source: Swiftmerge Signs LOI with HDL Therapeutics