Biotech company PrimeGen US will go public in the United States through a $1.5 billion business combination with blank-check firm DT Cloud Star Acquisition, the companies announced Wednesday.
The deal is expected to close in the second half of 2026, after which the combined entity will operate as PrimeGen US and list on the Nasdaq exchange, pending regulatory and shareholder approvals.
SPAC Route Gains Momentum
The transaction comes amid renewed interest from companies seeking alternative paths to public markets via mergers with special purpose acquisition companies, or SPACs. These shell companies raise capital in an initial public offering with the goal of combining with private firms, accelerating their listing without the traditional IPO route.
PrimeGen’s merger with DT Cloud Star represents a strategic step for the biotech to access public market capital while advancing its scientific and commercial ambitions.
PrimeGen’s Focus on Stem Cell Therapies
PrimeGen US develops stem cell–based therapies targeting acute liver injury and other critical conditions. The company aims to use the proceeds from the transaction to fund ongoing clinical development, regulatory submissions, and potential commercialization of its lead programs.
“This transaction is designed to provide PrimeGen US with the resources to accelerate development of our innovative therapies while expanding our footprint in the public markets,” a company spokesperson said.
