Jade Biosciences will merge with Aerovate Therapeutics in a reverse merger, allowing Jade to enter public markets under the ticker “JBIO.” The deal, expected to close in the first half of 2025, includes a $300 million private financing round and will see Jade's shareholders retain over 98% ownership of the combined entity. Jade's lead drug, targeting IgA nephropathy, is set to enter clinical trials in late 2024.
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