Pictured: Building blocks spell out SPAC, Special Purpose Acquisition Corporation/iStock, Dzmitry Dzemidovich

图为SPAC、特殊目的收购公司/iStock、Dzmitry Dzemidovich的积木

Despite a significant drop in popularity, the Special Purpose Acquisition Corporation route to go public is apparently not dead. Life science investment firm Cormorant Asset Management filed with the SEC Thursday for a $100 million initial public offering for its second such vehicle.

尽管受欢迎程度大幅下降，但特殊目的收购公司上市的途径显然并没有消亡。生命科学投资公司鸬鹚资产管理公司（Cormorant Asset Management）周四向美国证券交易委员会（SEC）提交申请，要求其第二辆此类汽车首次公开发行（IPO）1亿美元。

The blank check company will be dubbed Helix Acquisition Corp. II, with the Nasdaq ticker symbol HLXB. Led by Bihua Chen, Cormorant has indicated interest in buying 2.5 million shares in the company in addition to a $35 million private placement upon closing. The initial public offering (IPO) value could increase to as much as $115 million with over-allotment options.

这家空白支票公司将被命名为Helix Acquisition Corp.II，纳斯达克股票代码为HLXB。在陈碧华（Bihua Chen）的带领下，鸬鹚（Cormorant）表示有兴趣购买250万股该公司股票，此外还有3500万美元的私募股权。如果有超额配售选择权，首次公开募股（IPO）的价值可能会增加到1.15亿美元。

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The investment firm’s first Special Purpose Acquisition Corporation (SPAC)—Helix Acquisition Corp.—scooped up MoonLake Therapeutics in 2021. The new company was renamed MoonLake Immunotherapeutics and had a combined value of $620 million. The biopharma focuses on treatments for inflammatory skin and joint diseases. .

这家投资公司的第一家特殊目的收购公司（SPAC）-Helix收购公司-于2021年收购了MoonLake Therapeutics。新公司更名为MoonLake Immunotherapeutics，总价值6.2亿美元。生物制药专注于治疗炎症性皮肤和关节疾病。。

While SPACs exploded in popularity in 2020, the investment vehicle really catapulted to the forefront in 2021 when 107 such healthcare industry companies debuted. The model was attractive to many biotech companies in that it was considered a faster, cheaper option to going public via a traditional IPO.

虽然SPAC在2020年大受欢迎，但在2021年107家此类医疗保健行业公司首次亮相时，这一投资工具真正跃居前列。这种模式对许多生物技术公司很有吸引力，因为它被认为是通过传统IPO上市的更快、更便宜的选择。

It can also be less susceptible to the volatility of the market.  .

它也不太容易受到市场波动的影响。。

However, thanks to new accounting regulations, changing tax rules and higher tax rates, the popularity has dropped significantly. The number of companies that chose the SPAC route fell in 2022 and continued the downhill trajectory in 2023.

然而，由于新的会计法规、不断变化的税收规则和更高的税率，这一数字大幅下降。选择SPAC路线的公司数量在2022年下降，并在2023年继续走下坡路。

Chen and her firm are not swayed by the loss of SPAC popularity, however. Founded in 2013, the Boston-based company primarily targets healthcare with a particular focus on the biotech sector. They’ve invested in more than 100 life sciences startups, including a recent Series A for Triveni Bio—a company with a genetics-informed precision medicine approach for inflammation and immunology disorders.

然而，陈和她的公司并没有受到SPAC人气下降的影响。这家总部位于波士顿的公司成立于2013年，主要针对医疗保健领域，特别关注生物技术领域。他们已经投资了100多家生命科学初创公司，其中包括Triveni Bio公司最近的a系列，Triveni Bio是一家针对炎症和免疫疾病的遗传学精准医学方法公司。

Over 50 of the companies that Cormorant has invested in have completed IPOs.  .

鸬鹚投资的50多家公司已完成IPO。。

Helix II has not yet selected a specific business but intends to target “healthcare related industries,” adding that its primary focus will be on the biotechnology sector, according to Thursday’s SEC filing.

周四美国证券交易委员会（SEC）提交的文件显示，Helix II尚未选定具体业务，但打算瞄准“医疗保健相关行业”，并补充称其主要重点将放在生物技术领域。

Kate Goodwin is a freelance life science writer based in Des Moines, Iowa. She can be reached at kate.goodwin@biospace.com and on LinkedIn.

凯特·古德温是爱荷华州得梅因的一名自由生命科学作家。她的联系电话是kate.goodwin@biospace.com和LinkedIn。