Skip to main content
Premium Trial:

Request an Annual Quote

Nautilus Biotechnology to Go Public on Nasdaq Through Merger With Special Purpose Acquisition Firm

NEW YORK – Proteomics firm Nautilus Biotechnology plans to list on the Nasdaq through a merger with special purpose acquisition company Arya Sciences Acquisition Corp III.

Seattle-based Nautilus has entered a definitive merger agreement with Arya and is expected to receive $350 million in proceeds through the deal, including a $200 million private investment in public equity (PIPE) transaction at $10 per share from investors led by Perceptive Advisors, an affiliate of Arya III's sponsor.

Other investors in the PIPE include RA Capital Management, Ally Bridge Group, Bain Capital Life Sciences, Franklin Templeton Investments, OrbiMed, Alyeska Investment Group, Casdin Capital, and existing Nautilus Biotechnology shareholders including Andreessen Horowitz, Madrona Venture Group, and Vulcan Capital.

Once the transaction closes, Arya III will redomicile as a Delaware corporation, be renamed Nautilus Biotechnology, and start trading on the Nasdaq under the ticker symbol NAUT. The deal is expected to close in the second quarter.

Proceeds of the transaction will go towards development of the company's proteomics platform, growing its scientific, engineering, and commercial teams, and supporting general corporate activities.

"We believe Nautilus has the potential to help revolutionize biomedicine with an ultra-sensitive, single-molecule protein analysis platform designed to comprehensively analyze and quantify the human proteome," Nautilus CEO Sujal Patel said in a statement. "Our long-standing relationship with Perceptive Advisors, combined with a strong syndicate of other investors, makes us confident that this transaction aligns well with our goals of unlocking what we believe to be a significant opportunity in biological science, and creating long-term shareholder value."

Cofounded in 2016 by Patel and Chief Scientist Parag Mallick, an associate professor at Stanford University, Nautilus uses machine learning to make protein identifications based on measurements of multiple parameters describing the target molecules. Last year, the company raised $76 million in a Series B funding round.

The Scan

Transplant Tests Edited Pig Kidneys

The Associated Press reports a University of Alabama-Birmingham team transplanted genetically modified pig kidneys into a brain-dead human patient.

UK Changes Some Gene-Edited Crop Rules

A new law may enable gene-edited crops to be sold in the UK within about five years, New Scientist says.

Pill Works Against Omicron in Lab

Pfizer's antiviral pill to treat SARS-CoV-2 appears to work against the Omicron variant, the Wall Street Journal reports.

Nature Papers Find Genetic Risk Factor for Smell, Taste Loss in COVID-19; Analyze TB Granulomas

In Nature this week: genome-wide association study find locus linked to the risk COVID-19 patients losing their sense of taste or smell, and more.