North Immunology to go public via reverse merger with Aethlon Medical
North Immunology, a company developing an inflammatory disease drug potentially competing with Dupixent, is set to become publicly traded through a reverse merger with Aethlon Medical. The deal will see North Immunology investors own the majority (95.25%) of the new entity, which plans to trade on Nasdaq under the ticker symbol NRTX starting in early 2027. The transaction is part of an increasing trend among biopharma companies using reverse mergers as a faster route to public markets. A $180 million private placement led by investors like Bain Capital and Janus Henderson will fund operations until mid-2028, supporting the development of North Immunology’s lead asset, NOR-101. NOR-101 is designed to target both IL-13 and IL-18 proteins involved in inflammation. While it's still early for clinical trials (Phase 1a expected Q1 2027), the drug aims to address limitations of current therapies like Dupixent, which earned $17.8 billion last year for Sanofi and Regeneron.
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Topics: Biotech IPO/SPAC/RM Pharmaceuticals