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

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more