Here Is A PIPE & SPAC Combo In The Proteomics Space

In February, Quantum-Si Incorporated, a pioneer in next generation semiconductor chip-based proteomics, and HighCape Capital Acquisition Corp., a special purpose acquisition company sponsored by HighCape Capital LP, announced a business combination agreement. Upon completion of the transaction, the combined company’s Class A common stock is expected to be traded on The Nasdaq Stock Market (“Nasdaq”) under the symbol “QSI”.

The transaction will merge Quantum-Si’s revolutionary, end-to-end proteomics solution, and HighCape Capital Acquisition Corp., a healthcare-focused SPAC sponsored by leading healthcare growth equity investment firm HighCape Capital LP.

Key features of the transaction:

  • The transaction is further supported by an oversubscribed $425 million PIPE with participation from leading institutional investors, including Foresite Capital Management, LLC, Eldridge, accounts advised by ARK Invest, Glenview Capital Management, LLC, and Redmile Group, LLC.
  • The pro forma equity value of the business combination is $1.460 billion, with the combined company expected to have an estimated $514 million in cash after closing.
  • Quantum-Si Founder and Executive Chairman, Dr. Jonathan Rothberg, to become Executive Chairman of the combined company and will be joined on its board of directors by Kevin Rakin, Chief Executive Officer of HighCape Capital and Jim Tananbaum, MD, Founder and CEO of Foresite Capital Management, LLC.

Quantum-Si’s technology uses a sequencing approach it calls Quantum Si Time Domain Sequencing combined with a semiconductor sensing device to sequence proteins, including post-translational modifications, at the single-molecule level. The company plans to launch its first platforms in 2022 for research use.

Quantum-Si has created the first next-generation protein sequencing platform with the goal of revolutionizing the growing field of proteomics. Our unique semiconductor chip has the power to decode the molecules of life, starting with proteins, and holds the potential to expand the scale of the genomics and proteomics market beyond that of next-generation DNA sequencing.   

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Here Is A PIPE & SPAC Combo In The Proteomics Space was last modified: March 15th, 2021 by Staff