Singapore-based Nanyang Biologics Pte. Ltd. revealed Thursday it will go public in the U.S. via a merger with special purpose acquisition company RF Acquisition Corp. II, valuing the AI-driven biotech at $1.5 billion before the transaction.
The announcement marks a high-stakes entry into Wall Street for the company, which positions itself as a frontrunner in artificial intelligence-powered drug discovery. Nanyang says its crown jewel is “one of the world’s largest” AI-curated natural compound libraries, built in Singapore, and designed to accelerate breakthroughs in oncology, cardiovascular disease, and mental health treatments.
Breaking Barriers With AI Drug Discovery
Chairman Roland Ong framed the merger as a historic leap for the company.
“We are delighted to announce our business combination with RF Acquisition Corp II, marking an important milestone in Nanyang’s journey,” Ong said. “AI-driven drug discovery is breaking through barriers that have long hindered medicine, dramatically cutting R&D time and costs while opening new doors for humanity’s pursuit of longevity.”
SPACs—often called “blank-check companies”—raise capital through IPOs with the specific mission of merging with private firms and taking them public. For Nanyang, this vehicle offers a faster path to Nasdaq listings than a traditional IPO.
