Humacyte, a US-based developer of tissue-based medical technology backed by conglomerate Access Industries and healthcare company Fresenius Medical Care, will undertake a reverse merger with Alpha Healthcare Acquisition Corp.
Fresenius Medical Care and Alexandria Venture Investments, a unit of life sciences real estate investment trust Alexandria Real Estate Equities, have contributed to a $175m private investment in public equity (Pipe).
The Pipe also attracted OrbiMed, Monashee Investment Management, UBS O’Connor, Morgan Creek Capital and a range of unnamed healthcare-focused funds.
Alpha Healthcare already holds $100m in its trust account. The combined company will trade on the Nasdaq Capital market under the ticker symbol HUMA with a market cap of $1.1bn.
The transaction remains subject to customary closing conditions and is expected to complete in the second quarter of 2021.
Founded in 2004, Humacyte is working on universally implantable bioengineered human tissues and organs.
Fresenius Medical Care took a 19% stake in Humacyte in June 2018 as part of a $150m partnership agreement. Humacyte completed a $75m series C round in March 2018 led by PointState Capital, with participation from unnamed existing and new investors.
Access Industries had led a $150m series B round in 2015, when property developer Reignwood Group, financial services firm Bangkok Bank Public Company, Pacific Eagle Asset Management and angel investors also took part.
