Company Overview - Vision Sensing Acquisition Corp. (VSAC) is a special purpose acquisition company (SPAC) focused on acquiring a private technology company [5] - Mediforum Co., Ltd is a leading Korean biotechnology company established in 2015, specializing in treatments for Alzheimer's disease and neuropathic pain [3] Business Combination Details - VSAC has extended the deadline for its initial business combination with Mediforum from August 3, 2024, to September 3, 2024 [1][2] - The company will issue a noninterest bearing, unsecured promissory note to its sponsor for $51,016.10 as part of the extension [1] - The Mediforum Business Combination Agreement was signed on January 12, 2024, indicating a formal agreement for the merger [2] Mediforum's Product Pipeline - Mediforum's flagship product, PM012, is in Phase 2b trials for Alzheimer's disease, with plans for Phase 3 trials in Korea and the U.S. [3] - The company is also developing MF018, which is in Phase 2 for Chemotherapy-Induced Peripheral Neuropathy (CIPN) and has plans for Phase 3 trials [3] Advisors and Legal Counsel - Norwich Capital Limited and American General Business Association & SME Overseas IPO Capital Group are acting as Lead Advisor and Co-Advisor for Mediforum [4] - Loeb & Loeb LLP is serving as US Legal Counsel, while Next Law LLP is the Korean Legal Counsel for Mediforum [4]
Vision Sensing Acquisition Corp. Announces Intention to Extend the Period to Consummate Its Initial Business Combination to September 3, 2024