Mountain Crest Acquisition Corp. V, a blank check company advised by Loeb & Loeb LLP, has announced a merger agreement with CubeBio Co. Ltd., a South Korean cancer diagnosis technology firm. This transaction, valued at $375 million, will enable CubeBio to become a publicly traded company, with its shares listed on the Nasdaq, according to an announcement made on Thursday.
CubeBio’s Innovative Cancer Diagnostic Technology
CubeBio specializes in in-vitro diagnostics and has developed technology that can detect early-stage cancer by analyzing specific metabolites in urine. This non-invasive method uses easily collected urine samples to determine the presence of cancer, making it a groundbreaking advancement in the field of cancer diagnostics. The Seoul-based company currently holds 37 patents in Korea, which have facilitated the creation of products such as a pancreatic cancer diagnostic kit and a multi-cancer detection kit.
Global Expansion Plans Following CubeBio’s $375M Merger
At present, CubeBio markets its cancer diagnostic products exclusively in Taiwan, Vietnam, and Malaysia. However, the company is working on agreements to introduce its cancer screening technology in the U.S. and Japan, signaling a significant global expansion. The merger with Mountain Crest Acquisition Corp. V, valued at $375 million, is expected to accelerate these plans.
