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Home > News > Pharma News > Maxpro: Completed merger with SPAC Maxpro and listed on Nasdaq

Maxpro: Completed merger with SPAC Maxpro and listed on Nasdaq

yaozh.com 2023-03-31

Recently, the guanke beauty Po (ApollomicsInc.) announced a complete with MaxproCapitalAcquisitionCorp. (" Maxpro ", the nasdaq stock code: JMAC) business merger. Guancombo's Class A common stock and warrants are expected to begin trading today, March 30, 2023, on the NASDAQ Capital Market under the ticker symbols "APLM" and "APLMW." The business combination, which was approved by Maxpro's shareholders on March 20, 2023, will generate US $23.65 million for the company to advance the development of various drug candidates.

 

Our mission is to improve outcomes for patients with difficult-to-treat, high-mortality cancers. The company currently has a pipeline of nine novel anti-tumor drug candidates, six of which are in clinical development. The Company's innovative drug candidates have the potential to treat a wide range of cancers, including lung cancer, brain cancer, acute myeloid leukemia and other solid tumors, through targeted therapies, tumor immune agents and other innovative therapies.

 

Cancombe expects to receive results this year from a global Phase 2 multi-cohort trial of vebreltinib (APL-101, a highly specific c-Met inhibitor) in non-small cell lung cancer and other abnormal solid tumors with c-Met, which the company believes may support its first new drug marketing application to the U.S. National Drug Administration (FDA). Clinical data for other indications were also obtained. The company is also developing uproleselan (APL-106), an Eselectin inhibitor, as a combination agent with chemotherapy in China to enhance the efficacy of chemotherapy in adult patients with relapsed or refractory acute myeloid leukemia. The U.S. FDA granted uproleselan breakthrough therapy designation to Guancomimebo's U.S. partner GlycoMimetics, and China's National Drug Administration (NMPA) also granted breakthrough therapy designation in China. The Company expects to complete Phase 3 patient enrollment for APL-106 in China this year.

 

"Becoming a public company is an important milestone in our efforts to benefit refractory cancer patients around the world," said Dr. Guo-liang Yu, Chairman and CEO of Guanke Meibo. The funding we have now can help advance the oncology pipeline and provide more effective therapies and hope for patients."

 

MosesChen, Maxpro's chief executive, said: "We are pleased to have completed the business combination with MaxPro. We believe the company's cutting-edge drug candidates will bring value to investors while improving outcomes for patients with difficult-to-treat, high-mortality cancers."

 

After the business combination, the company will continue to be led by Dr. Yu Guoliang, a serial entrepreneur and distinguished scientist with more than 300 patents, as CEO and chairman of the board.

 

The executive leadership team will also include:

 

• Dr. SanjeevRedkar, cofounder of Mitcombo, will continue as President and serve as a director;

 

• Dr. JaneWang, who will continue as Chief Scientific officer;

 

• Dr. PeonyYu will continue as chief Medical officer.

 

In addition to Dr Yu Kwok-leung and Dr SanjeevRedkar, the board of directors will include: JonathanWang, Dr KennethC.Carter, Dr MosesChen, WendyHayes, GlennS.Vraniak(MBA).

Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

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