Graf Acquisition Corp. IV (NYSE: GFOR) has signed a non-binding letter of intent to pursue a business combination with NKGen Biotech, a biotechnology company focused on natural killer cell therapies for the treatment of patients in areas such as neurodegenerative disease and oncology. The proposed business combination is subject to the completion of due diligence, negotiation of a definitive agreement, satisfaction of conditions, and approval of the transaction by the boards and shareholders of both Graf and NKGen Biotech. Additional details will be announced when a definitive merger agreement is executed.
Graf Acquisition Corp. IV (NYSE: GFOR) (“Graf”), a NYSE-listed special purpose acquisition company founded by serial SPAC founder James Graf, and NKGen Biotech, Inc. (“NKGen Biotech”), a biotechnology company focused on harnessing the power of the body’s immune system through the development of natural killer cell therapies, announced today that they have signed a non-binding letter of intent (the “LOI”) to pursue a business combination.
Based in Santa Ana, CA, NKGen Biotech was established in 2017 and is focused on natural killer cell therapies for the treatment of patients in areas such as neurodegenerative disease (e.g., Alzheimer’s and Parkinson’s) and oncology. NKGen Biotech is currently led by CEO Paul Y. Song, M.D., and Executive Chairman Sangwoo Park.
Graf expects to announce additional details regarding the proposed business combination when a definitive merger agreement is executed.
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Completion of a business combination between Graf and NKGen Biotech is subject to, among other things, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, the satisfaction of the conditions negotiated therein, and approval of the transaction by the board and shareholders of both Graf and NKGen Biotech. There can be no assurance that a definitive agreement will be entered into or that the proposed business combination will be consummated on the terms or timeframe currently contemplated, or at all.
Source: BioSpace
