Pardes Biosciences is a clinical-stage biopharmaceutical company created by and for this moment to help solve pandemic-sized problems, starting with COVID-19. White & Case LLP acted as legal counsel to FS Development Corp. Goodwin Procter LLP acted as legal counsel to Pardes Biosciences.
Jefferies LLC and SVB Leerink acted as co-lead private placement agents for, and financial and capital markets advisor to, FS Development Corp.
Securities and Exchange Commission by FS Development Corp.
#Pardes registration
A more detailed description of the terms of the transaction has been provided in a registration statement on Form S-4 filed with the U.S. The description of the business combination contained herein is only a high-level summary and is qualified in its entirety by reference to the underlying documents filed with the U.S. Rowe Price Associates, Inc., GMF Capital LLC, EcoR1 Capital, Monashee Investment Management LLC, as well as strategic investor, Gilead Sciences. II, RA Capital Management, Frazier Life Sciences, funds and accounts advised by T. II, a SPAC sponsored by Foresite Capital, that was created for the purpose of entering into a business combination with a biopharmaceutical company.Īs a result of the business combination, Pardes Biosciences received gross proceeds of approximately $274 million, prior to transaction expenses, which includes cash proceeds of approximately $199 million from FSII’s trust account (after redemptions of approximately $2.4 million) and $75 million from PIPE investors led by Foresite Capital, an affiliate of FS Development Corp. On June 29, 2021, Pardes Biosciences, a privately held biotechnology company, entered into a definitive business combination agreement with FS Development Corp. “We look forward to Pardes’ continued growth as the company embarks on this next chapter.” II who will continue as a director for Pardes. “We strongly believe in the potential of oral antiviral therapies and the role they will play in addressing both the current pandemic as well as future global health challenges, and believe Pardes is well positioned to help lead the industry towards a post pandemic future,” said Jim Tananbaum, M.D., Chief Executive Officer of Foresite Capital and President and Chief Executive Officer of FS Development Corp. Top-line results of Phase I data are expected to be reported in Q1 2022. Pardes Biosciences protease inhibitor, PBI-0451, is currently in Phase I clinical study with early results showing potential for an unboosted oral regimen against COVID-19. As we enter this next step as a publicly traded company, we look forward to continuing our work at the forefront of this pandemic.” “Our team is working urgently to develop PBI-0451, our lead oral antiviral drug candidate currently in a Phase I trial, for the treatment and prevention of SARS-CoV-2 infections and are humbled by the potential to contribute a therapy to one of the most pressing public health crises of our time, with the opportunity to help patients globally. Lopatin, M.D., Chief Executive Officer of Pardes Biosciences.
“We founded Pardes Biosciences in early 2020 to help solve pandemic-sized problems, starting with COVID-19,” said Uri A. Pardes Biosciences’ management team will continue to be led by Chief Executive Officer Uri A. The transaction was previously approved by Pardes Biosciences’ shareholders. The shareholders of FSII approved the transaction on December 23, 2021. Pardes Biosciences, Inc., the resulting combined company, will commence trading its shares Monday, December 27 th on the Nasdaq Global Market under the symbol “PRDS.” Gross proceeds made available to Pardes Biosciences from this transaction totaled approximately $274 million, which included funds held in FSII’s trust account and the concurrent private investment in public equity (PIPE) financing. II (Nasdaq: FSII), a special purpose acquisition company (SPAC) sponsored by Foresite Capital. 27, 2021 (GLOBE NEWSWIRE) - Pardes Biosciences, Inc., a clinical-stage biopharmaceutical company developing PBI-0451 as a novel direct-acting, oral antiviral drug candidate designed to treat SARS-CoV-2 infections, today announced the completion of its business combination with FS Development Corp. Combined company renamed Pardes Biosciences, Inc.Ĭommon stock commences trading today under ticker symbol “PRDS” on the Nasdaq Global MarketĬARLSBAD, Calif.