Company Overview - Vision Sensing Acquisition Corp. (VSAC) is a Special Purpose Acquisition Company (SPAC) focused on acquiring a private technology company [15] - Mediforum Co., Ltd is a leading Korean biotechnology company established in 2015, headquartered in Seoul, with a mission to enhance the quality of life for those facing conditions like Alzheimer's disease and neuropathic pain [14] Business Combination Details - VSAC has entered into a Business Combination Agreement with Mediforum, extending the deadline to complete the initial business combination from July 3, 2024, to August 3, 2024 [6][13] - The sponsor, Vision Sensing, LLC, will deposit $51,016.10 into VSAC's trust account as part of the extension, and VSAC will issue a non-interest bearing, unsecured promissory note for the same amount [13] Product Pipeline - Mediforum's flagship product, PM012, is currently in Phase 2b trials for Alzheimer's disease, with plans for Phase 3 trials in Korea and the U.S. [14] - Mediforum is also developing MF018, which is in Phase 2 for Chemotherapy-Induced Peripheral Neuropathy and has plans for Phase 3 trials, with applications for Diabetic Peripheral Neuropathy [14] Market Position and Future Plans - Mediforum aims to become the first Korean biotech company listed on NASDAQ, emphasizing its commitment to technology, innovation, and transformative healthcare solutions [14]
Vision Sensing Acquisition Corp. Announces Intention to Extend the Period to Consummate Its Initial Business Combination to August 3, 2024