- Science 37 to debut on Nasdaq as a publicly traded company under the symbol “SNCE”
- Business Combination to Provide Science 37 with Approximately $ 235 Million in Cash Proceeds to Support Continued Growth
- Science 37 to fuel its mission of enabling universal access to clinical research which has been shown to accelerate patient recruitment, minimize patient burden and include underserved patient populations
- Targeted investments to improve the Science 37 operating system to decentralize the execution of clinical trials and enable more agile clinical trials
LOS ANGELES and NEW YORK, Oct 07, 2021 (GLOBE NEWSWIRE) – Science 37, Inc., the operating system for today’s agile clinical trials, today announced that it has completed its business combination previously announced with LifeSci Acquisition II Corp. (LSAQ) (âLifeSciâ), a blank check company targeting the biopharma, medical technology, digital health and healthcare industries. Common shares of the combined company, named Science 37 Holdings, Inc. (âScience 37â or the âCompanyâ) will begin trading on the Nasdaq Global Market under the new ticker symbol âSNCEâ today, October 7. 2021.
LifeSci shareholders approved the transaction at a special meeting on October 4, 2021. As a result of the transaction, Science 37 received approximately $ 235 million in cash, net of fees and expenses paid in connection with the transaction. closing of the business combination, including the proceeds of the private placement made in connection with the transaction. Science 37 intends to use the proceeds of the transaction to fund its decentralized trial technology platform, expand to new adjacencies, and fuel the next generation of clinical research. David Coman, President and CEO of Science 37, Inc., and the current management team of Science 37 Inc. will continue to lead the combined company.
âThe Science 37 operating system has been proven to dramatically accelerate patient recruitment, enable significantly higher patient retention, dramatically reduce patient burden, and enable participation of underserved patient populations. This is all made possible through our comprehensive, end-to-end technology platform and supported by specialist patient communities, telemedicine investigators, mobile nurses and remote coordinators, âsaid Mr. Coman. âThe additional capital from this transaction will help us realize our vision of being the category-defining operating system that powers every clinical trial as the industry shifts to more agile trial designs. “
Andrew McDonald, Ph.D., CEO of LifeSci, said: âThe extraordinary differentiation of Science 37 based on its technology platform and specialized networks represents the future of clinical trial operations. As a leader and innovator in agile clinical trials, Science 37 has the opportunity to transform the industry and positively impact the lives of millions of people. We are proud to partner with David and his talented team as Science 37 begins its next chapter as a public company.
Following the business combination, David Coman will sit on the Board of Directors of Science 37 alongside Rob Faulkner, Managing Director of Redmile Group, as Chairman; John W. Hubbard, Ph.D., former Managing Director of Bioclinica and former Senior Vice President and Global Head of Development Operations at Pfizer; Bhooshi de Silva, senior vice president, global head of corporate development, strategy and enterprises, at PPD; Adam Goulburn, Ph.D., partner at Lux Capital; Neil Tiwari, Partner of Private Healthcare Ventures at Magnetar Capital; and Emily Rollins, former partner of Deloitte & Touche.
Cowen and Perella Weinberg Partners LP acted as financial advisers and Latham & Watkins LLP and DLA Piper LLP (US) as legal advisers to Science 37. Cowen acted as exclusive placement agent of LifeSci Acquisition II Corp . as part of the private placement. LifeSci Capital LLC acted as Senior Manager of Bookkeeping for LifeSci Acquisition II Corp. in connection with its initial public offering in November 2020. Loeb & Loeb LLP acted as legal counsel to LifeSci Acquisition II Corp. Cowen, William Blair, Baird and Lake Street Capital Markets acted as Science 37’s capital markets advisers.
About science 37
The mission of Science 37 is to enable universal access to clinical research, facilitating the participation of patients and providers from almost anywhere and helping to accelerate the development of treatments that impact the lives of patients. As a pioneer in decentralized clinical trials, Science 37’s clinical trials operating system (OS) supports today’s most agile clinical research designs with its comprehensive, end-to-end technology platform. end and specialized networks of patient communities, telemedicine investigators, mobile nurses, remote coordinators and connected devices. Configurable to allow any type of study, the Science 37 operating system can deliver up to 15x faster recruitment, 28% better retention and 3x more diverse patient population with flow orchestration state-of-the-art evidence generation and data harmonization. For more information visit https://www.science37.com.
About LifeSci Acquisition II Corp.
LifeSci Acquisition II Corp. (LSAQ) is a blank check company formed for the purpose of completing a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more companies or entities, pursuing targets focused on innovation in healthcare in North America or Europe. For more information visit: https://lifesciacquisition.com/spac-2/.
This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the benefits of the transaction between Science 37, Inc. and LifeSci, the services offered by Science 37 and the markets in which it operates. , and The expected future results of Science 37. These forward-looking statements are generally identified by the words âbelieveâ, âplanâ, âexpectâ, âanticipateâ, âestimateâ, âintendâ, âthe strategy “,” the future “,” the opportunity “,” the plan, “” may “,” should “,” will “,” would “,” will “,” continue “,” will probably result “and similar expressions. Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. There are many factors that could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, but not limited to: (i) the ability to maintain the listing of Science 37 securities on the Nasdaq, (ii) the volatility of the price of Science 37 securities due to various factors, including changes in the competitive and highly regulated industries in which Science 37 plans to operate, variations in performance between competitors, changes in laws and regulations affecting Science 37’s business and changes in its capital structure, (iii) the ability to implement business plans, forecasts and other expectations, and to identify and achieve additional opportunities, (iv) the risk that Science 37 will never be able to achieve or maintain profitability, (v) the risk that Science 37 will have to raise additional capital agents to execute its business plan, who may not be available on acceptable terms or not at all; and (vi) the potential negative effects of the current global COVID-19 pandemic. The foregoing list of factors is not exhaustive. You should carefully consider the above factors and the other risks and uncertainties described in the âRisk Factorsâ section of LifeSci’s final proxy / prospectus statement and registration statement on Form S-4 filed with the Securities and Exchange Commission of the United States (the âSECâ). and other documents filed by Science 37 from time to time with the SEC. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Science 37 and LifeSci assume no obligation and do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither Science 37 nor LifeSci guarantees that Science 37 or LifeSci will meet their expectations.
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[emailÂ protected]Nina gill