Benzinga | May 6, 2021 03:10PM EDT

Jasper Therapeutics To List On NASDAQ Via SPAC Reverse Merger

* Biotech firm, Jasper Therapeutics Inc, is planning to go public via a reverse SPAC merger deal with Amplitude Healthcare Acquisition Corp (NASDAQ: AMHC) in a $100 million deal.

* The combined company will be renamed Jasper Therapeutics Inc and its common stock is expected to be listed on NASDAQ under the ticker symbol "JSPR."

* The deal also comes with a PIPE financing of an additional $100 million, setting Jasper up with a $490 million market cap once the merger closes in the third quarter of this year.

* Funds from the SPAC will be used to advance Jasper's lead program, JSP191, and its stem cell platform.

* JSP191 is a humanized CD117 monoclonal antibody in clinical development as a conditioning agent that clears hematopoietic stem cells from bone marrow, creating an empty space for the donor or gene-corrected transplanted stem cells to engraft.

* It is currently enrolling in two clinical trials for acute myeloid leukemia (AML)/ myelodysplastic syndromes (MDS) and severe combined immunodeficiency (SCID).

* It is scheduled to start enrollment in 3 additional studies in 2021 for severe autoimmune disease, sickle cell disease, and Fanconi anemia patients undergoing hematopoietic cell transplantation.

* Price Action: AMHCU shares are up 3.68% at $10.42 during market trading hours on the last check Thursday.