Hong Kong's Prenetics agrees $1.25b SPAC merger
Hong Kong-based genetic testing business Prenetics has agreed to merge with a special purpose acquisition company (SPAC) sponsored by Adrian Cheng, scion of local property developer New World Development and managing partner of C Ventures, at an enterprise valuation of $1.25 billion.
Prenetics has raised $85 million in funding to date, including a $40 million round led by Alibaba Group’s Hong Kong Entrepreneur Fund and Beyond Ventures in 2017, and a $15 million round led by Apis...
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