Skip to main content
Premium Trial:

Request an Annual Quote

Protein Sequencing Firm Quantum-Si to Go Public Through Special Purpose Acquisition Company Merger

NEW YORK – Proteomics firm Quantum-Si plans to list on the Nasdaq through a merger with special purpose acquisition company HighCape Capital Acquisition Corp.

Guilford, Connecticut-based Quantum-Si has entered a definitive business combination agreement with HighCape and is expected to receive $425 million via a private investment in public equity (PIPE) transaction from investors including Foresite Capital Management, Eldridge, accounts advised by ARK Invest, Glenview Capital Management, and Redmile Group.

The pro forma equity value of the business combination is $1.46 billion, with the combined company expected to have an estimated $514 million in cash after closing, which includes up to $115 million in cash held in HighCape's trust account. Quantum-Si Founder and Executive Chairman Jonathan Rothberg will become executive chairman of the combined company.

The transaction is expected to close in Q2 2021, after which the company's stock will trade on the Nasdaq under the symbol QSI.

Quantum-Si's technology uses a sequencing approach it calls Quantum Si Time Domain Sequencing combined with a semiconductor sensing device to sequence proteins, including post-translational modifications, at the single-molecule level. The company plans to launch its first platforms in 2022 for research use.

"Quantum-Si's business strategy aligns well with our investment philosophy," said Kevin Rakin, CEO of HighCape Capital. "We have confidence that this highly passionate and experienced management team is well-positioned to deliver on its bold vision of revolutionizing the proteomics market. We look forward to supporting Quantum-Si and building a sustainable business that will be a disruptive force in the proteomics industry in the years to come."

The Scan

Close Panel Vote on Califf Nomination

The New York Times reports there was a close committee vote to advance the nomination of Robert Califf to lead the US Food and Drug Administration to the full Senate.

Task Force Reports on Scientific Integrity

Nature News writes that that a new task force report recommends that the US establish a cross-agency scientific integrity council.

Across the Hall

Genetic testing, closed-circuit cameras, and more show how a traveler, without any contact, infected others at a New Zealand quarantine facility, CNN reports.

Science Paper Examines Influence of Chromatin Modifications on Obsessive-Compulsive Disorder

In Science this week: genes regulating chromatin modification may contribute to OCD risk.