28 July 2022

Frazier Lifesciences Acquisition Corporation (FLAC), a SPAC affiliated with Frazier Healthcare Partners, has announced a business combination with NewAmsterdam Pharma (NewAmsterdam), a biopharmaceutical company developing the drug obicetrapib. 

The proceeds of the business combination will be used to reach all the milestones set for obicetrapib. Because of the strong interest from investors, the initial PIPE (Private Investment in Private Equity) has been amply exceeded. 

Frazier Healthcare Partners, a private equity party based in the United States, is a market leader in the healthcare area. NewAmsterdam is developing the drug obicetrapib, which is a new CETP inhibitor administered once a day to patients with a high risk of cardiovascular disease.

The closing of the business combination (the SPAC) is expected to bring NewAmsterdam’s total pro forma cash balance to at least USD 470 million, in addition to a total enterprise value of USD 326 million. The combined entity, NewAmsterdam Pharma Company N.V., will be listed on NASDAQ.

The Houthoff team advising Frazier Lifesciences Acquisition Corporation included Guillette van Grinsven, Paul de Vries, Marijn van Horen, Daniël Stuijt, Jeroen van Mourik, Brendan Moloney, Manon Jacobs, Arjan Adams, Greetje van Heezik and Arnoud de Best.

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