Feb 4 (Reuters) – Biotech firm PrimeGen US will go public in the United States through a $1.5 billion deal with blank-check company DT Cloud Star Acquisition, the companies said on Wednesday.
The transaction is expected to close in the second half of 2026, after which the combined company will operate as PrimeGen US and anticipates a listing on the Nasdaq exchange.
The deal comes amid renewed interest from firms to go public via mergers with special purpose acquisition companies (SPAC) as an alternative to traditional listings.
SPACs operate as shell companies that raise money in an IPO to later merge with privately held firms and take them public.
PrimeGen is a biotech company that develops stem cell–based therapies for acute liver injury and related critical conditions.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)
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