EXCLUSIVE-German investor Angermayer to launch biotech SPAC in the U.S. -sources

  • 2/17/2021
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BERLIN, Feb 17 (Reuters) - German investor Christian Angermayer is planning to list a blank-cheque company in New York, embracing a trend that has seen a swathe of entrepreneurs tapping into investor interest in new offerings pa, two people close to the matter said. His Frontier Acquisition Corp., a special purpose acquisition company (SPAC), is planning to sell shares worth $200 million and will have a biotech focus, the sources said, adding that an official filing could take place in the coming days with a listing as early as March. The SPAC is being sponsored by Angermayer’s family office Apeiron Investment Group as well as by venture capital firm Falcon Edge, known for investments in companies like Uber , Delivery Hero, Alibaba and Swipe, they added. Angermayer’s Aperion declined to comment while Falcon Edge was not immediately available for comment. SPACs, so-called blank cheque companies, raise funds in an initial public offering with the aim of buying a private firm. The United States has seen a boom in SPAC listings, while there have been relatively few in Europe. German venture capitalist Klaus Hommels launched a blank cheque company in Frankfurt on Wednesday through his firm Lakestar, while former UniCredit boss Jean-Pierre Mustier earlier this week teamed up with French tycoon Bernard Arnault to launch a SPAC in Amsterdam. Like Angermayer, other entrepreneurs have chosen to seek a U.S. listing, including the SPAC of former Credit Suisse CEO Tidjane Thiam and Egyptian billionaire Nassef Onsi Sawiris. The founders of Berlin e-commerce pioneer Rocket Internet, Oliver Samwer, and meal kit company Hellofresh, Dominik Richter, are also planning to list SPACs in New York. Angermayer is a serial entrepreneur, backing about 30 biotech companies including Atai Life Sciences, which is developing anti-depression drugs from so-called magic mushrooms. Angermayer was also an investor in immunotherapies firm Sensei Biotherapeutics, mental health care company Compass Pathways and artificial intelligence-powered drug discovery platform Abcellera, all of which listed in the U.S. in recent months. Credit Suisse is organising the IPO of Frontier Acquisition Corp., the sources said, adding that David Sinclair and Peter Attia, founders in the biotech and tech space will serve as co-chairmen. Credit Suisse as not immediately available for comment.

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