RALEIGH – Science 37, a clinical research organization with dual headquarters in Raleigh and Los Angeles, is set to become a publicly traded company after its plans to complete a business combination with a special purpose acquisition company was approved this week.
The company announced in a statement that it would begin trading on the Nasdaq Global Market with the ticker symbol “SNCE” starting on October 7.
The company completed the business combination with LifeSci Acquisition II Corp., which had been trading on the Nasdaq under ticker symbol “LSAQ”.
The shareholders of LifeSci Acquisition II Corp. approved the deal at a meeting on Oct. 4, the company stated. The deal netted Science 37 about $235 million, the company stated.
David Coman, the CEO of Science 37, Inc., and Science 37 Inc.’s current executive team will continue to lead the combined company, the statement noted.
“The additional capital from this transaction will help us deliver on our vision to be the category-defining operating system that powers every clinical trial as the industry shifts to more agile trial designs,” Coman said in a statement.
Science 37 is the second life science company in the Triangle to conduct a business combination with a special purpose acquisition company. Humacyte completed a merger with a SPAC earlier this year.
At the close of the trading day yesterday, the company’s stock was trading at $10.05 per share, up from the start of the day when it was $9.37 per share.
The company is hiring about three dozen positions based in Raleigh, some of which are currently remote, according to the company’s careers webpage.