APRINOIA Therapeutics has announced the mutual termination of its business combination agreement with Ross Acquisition Corp II (RAC), a special purpose acquisition company. The termination, effective immediately, includes mutual releases for claims and liabilities. APRINOIA is a clinical-stage biopharmaceutical company focused on developing therapeutics and diagnostics for neurodegenerative diseases like Alzheimer’s Disease and Progressive Supranuclear Palsy. The company is working on platforms that involve PET diagnostic tracers, antibody therapies, and protein degraders to diagnose and treat disorders marked by toxic protein aggregates in the brain.
APRINOIA Therapeutics (“APRINOIA”), a global clinical-stage biopharmaceutical company developing novel therapeutics and precision diagnostics for the treatment of neurodegenerative diseases such as Alzheimer’s Disease (“AD”) and Progressive Supranuclear Palsy (“PSP”), announced a mutual termination of its previously announced business combination agreement with Ross Acquisition Corp II (“RAC”), a special purpose acquisition company. The parties entered into a Termination Agreement on August 21, 2023, which is effective immediately and contains mutual releases for claims and liabilities. A copy of the termination agreement is filed as an exhibit to a Current Report on Form 8-K filed by RAC.
APRINOIA is developing three platforms to diagnose and treat neurodegenerative disorders marked by abnormal protein aggregates of tau and alpha-synuclein (“α-Syn”) that are toxic to brain cells: (1) highly sensitive and selective positron emission tomography (“PET”) diagnostic tracers for tau and α-Syn aggregates, with 18F-APN-1607 (INN: florzolotau) being a potential first-in-class 3 carboxy-terminal/4 carboxy-terminal domain repeat tau PET tracer for the diagnosis of PSP and related disorders, as well as AD; (2) an antibody platform, with APNmAb005 being a novel monoclonal antibody with greater selectivity for pathologic forms of tau that contribute to the pathogenesis of AD and primary tauopathies; and (3) a protein degrader platform based on proteolysis targeting chimeras that target pathological α-Syn and tau proteins, that potentially represents one of the more innovative therapeutic approaches for the treatment of neurodegenerative diseases.
Source: BioSpace
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