EQRx, a new type of pharmaceutical company committed to developing and delivering important new medicines to patients at radically lower prices, went public via a SPAC merger with CM Life Sciences III, a life science-focused special purpose acquisition company, in a $3.6bn deal. The transaction includes a PIPE of $1.2bn led by SoftBank Group, Casdin Capital and Corvex Management, with participation from Fidelity Management & Research Company, Franklin Templeton, Invus, Rock Springs Capital, Bain Capital, BVF Partners, Boxer Capital, Avidity Partners, Andreessen Horowitz, Mubadala Investment Company and Verily. "EQRx is new pharma, leading the way in how we develop and price innovative medicines. We are excited to partner with a world-class group of investors who recognize the opportunity for change in our industry," Alexis Borisy, EQRx Chairman and CEO.