Biotech Firm Medera Set to Go Public in $623 Million SPAC Deal

Medera Inc., a clinical-stage biopharmaceutical company developing treatments for cardiovascular diseases, has reached an agreement to go public on the Nasdaq through a merger with Keen Vision Acquisition Corp.

The deal values Medera at $622.6 million, according to the companies. Cash proceeds from the transactions will total about $149.5 million from the special purpose acquisition company’s trust account, before any redemptions by its stockholders.

Medera founder and Chief Executive Officer Ronald Li said the company decided on a SPAC transaction over an initial public offering because it provided the quickest access to capital markets.

“We absolutely had options on ...