MoonLake Immunotherapeutics went public via a SPAC merger with Cormorant-backed Helix Acquisition in a $230m deal.

MoonLake Immunotherapeutics, a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory skin and joint diseases, went public via a SPAC merger with Cormorant-backed Helix Acquisition, a special purpose acquisition company, in a $230m deal. Transaction includes $115m PIPE investment from Cormorant Asset Managers, BVF Partners, 683 Capital Partners, Asymmetry Capital Management, Ghost Tree Capital Group, Monashee Investment Management, RTW Investments, Surveyor Capital, TCG X and Tekla Capital Management. “This financing is an important milestone for our company. On behalf of the founders, we are grateful to the MoonLake team and our investors for ensuring access to the capital we need to advance our sonelokimab clinical programs, and create the potential to transform the lives of patients affected by IL-17A/F-driven inflammatory diseases. We would like to congratulate Cormorant, all of our investors, and the MoonLake team for their contributions to reaching this important stage, and we look forward to our immediate next steps, including the imminent start of our innovative Phase 2 program,” Jorge Santos da Silva, MoonLake CEO.