The Pharmacy Company EQRx and CM Life Sciences III Sign a $1.8 Billion Merger Deal
Pharmaceutical company EQRx and a life science-focused special purpose acquisition company (SPAC), CM Life Sciences III, have signed a definitive business combination agreement worth up to $1.8bn.
CM Life Sciences III is sponsored by Casdin Capital and Corvex Management affiliates.
EQRx focuses on developing and delivering new therapies to patients at reduced costs with a late-stage and increasing product pipeline under development for high-cost treatment areas.
The company is developing a pipeline of advanced drug candidates for diseases such as cancer and inflammatory conditions.
Using established druggable targets, the company expects an increased probability of regulatory success, reduced risk-adjusted cost of drug development and a more efficient access model.
