Christian Angermayer’s Frontier Acquisition Corp., a special purpose acquisition company (SPAC) focused on longevity and rejuvenation biotechnology, a new industry forming around the subject of life extension technologies, has announced the pricing of its IPO of $200 million.
The biotech-focused SPAC, which is led by Angermayer, founder of Apeiron Investment Group and Chairman of Cambrian Biopharma, is looking to sell 20 million units at $10 each.
Frontier Acquisition is backed by VC firm Falcon Edge, a firm with investments in ride-hailing taxi app Uber Technologies, Inc. (NASDAQ:UBER), e-commerce giant Alibaba Group (NYSE:BABA) and German food delivery group Delivery Hero.
In a press release Frontier said, that it “intends to pursue opportunities at the intersection of the healthcare and technology industries,” but that it “will not be limited to a particular industry or geographic region in its identification and acquisition of a target company.”
Perhaps the most interesting news about this SPAC is the inclusion of two big names in the aging research field, that of David Sinclair, Professor of Genetics at Harvard Medical School and co-founder of several biotech companies, and Peter Attia, a practicing physician and the co-founder and Chief Medical Officer of the fasting app Zero, an app designed to make fasting for longevity and health purposes both safer and easier.
Angermayer’s views
Angermayer laid out his biotech views last year in a detailed post on LinkedIn stating: “Put simply, I want to live forever! And in perfect health! And it is my sincere belief that we will achieve the means to do this within the next 20-30 years.”
The serial German entrepreneur also said that he was “very proud to partner with legends“ Sinclair and Attia, as well as Falcon Edge Capital, and that he deeply believed in the biotech industry which according to him “will be one of the best asset classes to invest in over the next decade“.
“We will see incredible progress that we so far didn’t dare to dream about“, he noted.
Price Action
Frontier Acquisition shares gained $0.17, or 1.68%, by the close of trading Friday and changed hands at $10.30 each.
Ticker is listed on the Nasdaq under the symbol ‘FRONU’.
Credit Suisse (NYSE:CS) acted as a lead manager on the deal.
Reference: LT
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