U.S. markets open in 31 minutes
  • S&P Futures

    4,437.00
    -8.75 (-0.20%)
     
  • Dow Futures

    34,734.00
    +60.00 (+0.17%)
     
  • Nasdaq Futures

    15,203.00
    -115.75 (-0.76%)
     
  • Russell 2000 Futures

    2,248.70
    +4.70 (+0.21%)
     
  • Crude Oil

    75.42
    +1.44 (+1.95%)
     
  • Gold

    1,752.90
    +1.20 (+0.07%)
     
  • Silver

    22.67
    +0.24 (+1.07%)
     
  • EUR/USD

    1.1715
    -0.0003 (-0.02%)
     
  • 10-Yr Bond

    1.4990
    +0.0390 (+2.67%)
     
  • Vix

    18.96
    +0.33 (+1.77%)
     
  • GBP/USD

    1.3700
    +0.0020 (+0.14%)
     
  • USD/JPY

    110.8680
    +0.1830 (+0.17%)
     
  • BTC-USD

    43,607.17
    +330.73 (+0.76%)
     
  • CMC Crypto 200

    1,086.30
    -16.76 (-1.52%)
     
  • FTSE 100

    7,052.34
    +0.86 (+0.01%)
     
  • Nikkei 225

    30,240.06
    -8.75 (-0.03%)
     

Respiratory Viral Infections-Focused Revelation Biosciences Turns To SPAC Deal For NASDAQ Debut

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Revelation Biosciences Inc is joining Petra Acquisition Inc (NASDAQ: PAIC) to create a NASDAQ-listed company with an enterprise value of $128 million.

  • The merger is expected to close in Q4 2021, and the combined company will be listed on NASDAQ under the ticker symbol REVB.

  • Revelation will pocket $73 million through the merger and use the money to advance REVTx-99, a nasal drop formulation designed to stimulate the innate immune system via TLR4-TRIF pathway agonism.

  • In a 48-subject phase 1 trial, Revelation linked REVTx-99 to increased intranasal levels of the cytokine IP-10.

  • Revelation identified IP-10 as the key cytokine of interest because it is upregulated in response to respiratory viral infection and linked to clinical efficacy in challenge studies.

  • With phase 1 proof-of-principle data in hand, Revelation is now gearing up for further development.

  • A 60-subject phase 2 influenza viral challenge study is slated to start in Q1 of 2022.

  • REVTx-99 is also in development to treat chronic nasal congestion, with a phase 1 trial set to start this year.

  • The same platform has generated a second, earlier-stage candidate, REVTx-200. Revelation sees the follow-up prospect as a way to improve the immune response to intramuscular vaccines.

  • Price Action: PAIC stock is up 0.05% at $10.06 during the market session on the last check Monday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.