AI Drug Discovery Pioneer, Nanyang Biologics Pte. Ltd., Enters into Business Combination Agreement with RF Acquisition Corp II in US$1.5B Transaction to Pursue Public Listing
Prnewswire·2025-10-02 11:50

Core Viewpoint - NYB has entered into a business combination agreement with RF Acquisition Corp II, aiming to become a publicly listed company on Nasdaq under the ticker symbol "NYB" [1][9]. Company Overview - NYB is an AI-driven drug discovery and biotechnology company, recognized for its Vecura™ AI platform powered by the proprietary Drug-Target Interaction Graph Neural Network (DTIGN) [3][13]. - The company is developing one of the world's largest AI-curated natural compound libraries in collaboration with global technology leaders such as NVIDIA, HP, and Equinix [3][14]. Business Combination Details - The Proposed Transaction values NYB at approximately $1.5 billion in pre-transaction equity value, with existing shareholders retaining a majority of the Combined Company's outstanding shares [9][10]. - NYB will designate a majority of the board of directors for the Combined Company [2][9]. Pipeline and Innovations - NYB's drug discovery efforts have led to the identification of multiple nature-inspired small molecules targeting oncology, cardiovascular health, and mental health, with candidates like NB-A002 targeting the ILF2 protein [4][5]. - The global DNA Damage Response (DDR) therapy market is currently valued at $8.3 billion and is expected to reach $19.5 billion by the mid-2030s, indicating significant market potential for NYB's lead candidate [6]. Strategic Collaborations - NYB has established a joint laboratory with Nanyang Technological University (NTU), focusing on advancing AI-driven drug discovery and harnessing the therapeutic potential of natural compounds [7][14]. - The collaboration aims to develop next-generation AI engines to support drug discovery across various therapeutic areas [7]. Management Commentary - Management expresses confidence in NYB's unique position to transform medicine by addressing high unmet medical needs through its innovative AI-powered drug discovery platform [8].