Nasdaq listing awaits Singapore’s US$1.5 billion AI drug-discovery biotech Nanyang Biologics
Its valuation is driven by a proprietary agentic AI platform and potential first-in-class cancer treatment
[SINGAPORE] Singapore-based biotech startup Nanyang Biologics (NYB) is preparing to make its Nasdaq debut through a special purpose acquisition company merger.
This comes as it seeks to raise capital to take an artificial intelligence-driven drug-discovery platform developed in the Republic to global markets.
The proposed business combination with RF Acquisition Corp II values NYB at between US$1.5 billion and US$2.2 billion, after shareholders of the Nasdaq-listed blank-cheque company approved the transaction in August.
