The9-backed Nanyang Biologics to go public via a SPAC merger with RF Acquisition Corp II in a $1.5bn deal.

The9-backed Nanyang Biologics, an AI-driven drug discovery and biotechnology company, agreed to go public via a SPAC merger with RF Acquisition Corp II, a publicly traded special purpose acquisition company, in a $1.5bn deal. " We are delighted to announce our combination with RFAI, marking an important milestone in NYB's journey. Public listing can definitely speed up our AI-driven drug discovery. It breaks through barriers that have long hindered the advancement of medicine, significantly reduced R&D time and costs while opening new opportunities for humanity to pursue longevity. Our proprietary DTIGN platform has mapped vast numbers of molecules and successfully identified promising candidates, strengthening the feasibility of a new era of drug development," Roland Ong, NYB Chairman.