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Immunotherapy drug developer Estrella Biopharma intends to go public through a merger with SPAC TradeUp Acquisition Corp. (NASDAQ:UPTD).
The combined company, to be called Estrella Immunopharma, is expected to have a pro forma equity value of $399M, assuming no redemptions.
Based in Emeryville, Calif., Estrella has been developing CD19 and CD20-targeted T-cell therapies for the treatment of blood cancers and solid tumors using Eureka Therapeutics' ARTEMIS cell receptor platform technologies. The company is headed by Eureka founder and CEO Cheng Liu.
Estrella's drug candidates are still in preclinical testing. It's lead candidate, EB103, is being studied as a potential treatment for diffuse large B-cell lymphoma.
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