Deal-Ticker: MoonLake Immunotherapeutics AG enters into business combination with Nasdaq-listed Helix Acquisition Corp.
MoonLake Immunotherapeutics AG, a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory skin and joint diseases, and Helix Acquisition Corp. (Nasdaq: HLXA), a special purpose acquisition company (SPAC), have entered into a definitive business combination agreement. Upon closing of the transaction, the company will be renamed "MoonLake Immunotherapeutics" and is expected to have an implied pro forma equity value of approximately $620 million. The company's common stock is expected to be listed on Nasdaq under the ticker symbol MLTX.
Proceeds from the transaction should provide MoonLake with the capital needed to accelerate the development of the clinical stage, tri-specific Nanobody® sonelokimab, in multiple inflammatory diseases in dermatology and rheumatology driven by IL-17A and IL-17F (A/F Inflammatory Diseases or AFIDs).
Kellerhals Carrard acted as Swiss legal advisor to MoonLake Immunotherapeutics AG on this transaction. The team of Kellerhals Carrard comprised Nicolas Mosimann (Lead), Emanuel Dettwiler, Kevin MacCabe, Jon Oetiker, Dario Ammann and Sophie Holdt (all Corporate/VC), Marco Sibold (Tax/Corporate) and Melanie Huber (Employment).