CERo Therapeutics Merges With Phoenix Biotech Acquisition Corp.

Seattle – June 13, 2023 – Cooley advised CERo Therapeutics, an immunotherapy company, on its merger agreement with Phoenix Biotech Acquisition Corp. Lawyers Alan Hambelton, Kassendra Galindo, Julia Stark, Willy Cowles and Dannielle Antone led the Cooley team advising CERo.

The combined company will be named CERo Therapeutics Holdings, Inc., with the transaction expected to close in the second half of 2023. The merger will provide CERo with the capital to advance its lead product candidate to clinical trials in hematological oncology and expand its clinical development to treat other cancers. CERo will receive up to $13.7 million held in trust. The merger reflects a pre-money equity value of $50 million for CERo and a pro forma equity capitalization for the combined company of $145 million.

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