Nautilus Biotechnology, Inc., a company pioneering a single-molecule protein analysis platform for quantifying the human proteome, and Arya Sciences Acquisition Corp III, a special purpose acquisition company or SPAC, sponsored by Perceptive Advisors, announced in February a definitive business combination agreement.
The combined company is expected to receive proceeds of approximately $350 million at the closing of the transaction (assuming no redemptions are effected) and will continue to operate under the Nautilus management team, led by founder and Chief Executive Officer, Sujal Patel, and founder and Chief Scientist, Parag Mallick. The boards of directors of both Arya III and Nautilus have approved the proposed transaction. Completion of the transaction, which is expected in the second quarter of 2021, is subject to approval of Arya III’s shareholders and the satisfaction or waiver of certain other customary closing conditions.
Since its founding, Nautilus’ goal has been to increase access the proteome, thereby potentially transforming the ability to examine disease mechanisms, and develop new therapeutics and diagnostics. This mission is guided by a recognition that major advances in proteomics have lagged behind genomics, which Nautilus Biotechnology believes is primarily due to a lack of available tools for measuring the proteome as easily or completely as one can measure the genome and transcriptome.
Nautilus was co-founded in 2016 by Sujal Patel, founder and CEO of Isilon Systems, a publicly-traded company that sold to EMC in 2010 for $2.6B, and Parag Mallick, PhD, Associate Professor of Radiology at Stanford University and a member of BioX, Stanford’s pioneering interdisciplinary biosciences institute, and the Canary Center for Cancer Early Detection. The leadership team combines its entrepreneurial and research backgrounds to solve the challenge of more easily and completely quantifying the proteins that drive every aspect of human physiology. That limitation has impeded scientific and pharmaceutical R&D and Nautilus’ platform will enable a more comprehensive understanding of cellular and organismic biology.
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