Chemomab, Scipher to merge in USD150m transaction
Israeli biotech company Chemomab Therapeutics and Scipher Medicine have entered into a definitive merger agreement to combine in an all-stock transaction that values the combined company at USD 150 million, before a concurrent USD 30 million private placement.
The combined company will operate as Scipher Medicine Corporation and is expected to trade on Nasdaq under the ticker symbol “SCIP.” The company will focus on advancing nebokitug, Chemomab’s first-in-class anti-CCL24 antibody, into an AI-powered Phase 2 trial for rheumatoid arthritis, using Scipher’s precision medicine platform and PrismRA test to identify patients most likely to respond to treatment.
Upon completion of the merger, pre-merger Scipher equityholders are expected to own approximately 68% of the combined company, with pre-merger Chemomab equityholders expected to own approximately 32%, on a fully diluted basis. The transaction is expected to close in the fourth quarter of 2026.
Paul Hastings and Goldfarb Gross Seligman are advising Scipher, with the Paul Hastings team led by Jeffrey Hartlin and Andrew Goodman, with support from Kevin DeCeoursty, Chris Warren, Andrew Brooksbank, Keith Schomig, Quinn Dang, Jason Schechter, Matt Kovac, Andrew Davis, Jeffrey Ii, Jennifer Riddle, Lynn Mehler, Tina Jeffcoat, Sara Winkler, Sarah Gagan, Colin Wetmore, Rachel Kurzweil, Dan Stellenberg, Kelly Kyung-Lee Go, Joshua Soven, Samantha Eldredge, and Jenna Barba.
Meitar and Baker McKenzie are representing Chemomab.
