Abpro Completes Business Combination with Atlantic Coastal Corp

Abpro's Successful Business Combination Announcement

Abpro Corporation, a dedicated biotechnology firm focused on improving the lives of individuals facing severe diseases, has successfully completed its business combination with Atlantic Coastal Acquisition Corp. II. This merger, which received approval from Atlantic Coastal's stockholders, positions Abpro for significant growth and innovation in the field of next-generation antibody therapies.

Strategic Growth Through Merging

The newly formed entity will operate under the name Abpro Holdings, Inc., with Abpro Corporation as its wholly-owned subsidiary. The transition marks a pivotal moment for the company, which is poised to begin trading on The Nasdaq Global Market under the ticker symbol "ABP". Additionally, its warrants will be available under the ticker "ABPWW" starting soon. This successful merger reflects Abpro's commitment to advancing its therapeutic portfolio and expanding its market presence.

Focus on Next-Generation Therapeutics

Currently, Abpro is advancing its next-generation antibody therapies that primarily target HER2+ cancers, which include breast, gastric, and colorectal cancer treatments. Moreover, the company is developing treatments for Wet AMD/DME and COVID-19. Their proprietary platform, DiversImmune®, is instrumental in crafting these innovative therapies, making it a vital asset in their quest to combat significant health challenges.

Partnership with Celltrion

A critical partnership with Celltrion, a leading South Korean pharmaceutical company, has further propelled Abpro's efforts. This exclusive collaboration aims to advance the development of ABP 102, a T-cell engager targeting HER2+ cancers including breast, gastric, and pancreatic cancer. Recently, Celltrion made a significant investment of $5 million in Abpro’s common stock, demonstrating strong confidence in the company’s potential.

Financial and Legal Guidance

The financial advisor role for Abpro Corporation was handled by Brookline Capital Markets, a division of Arcadia Securities, LLC. They were instrumental in navigating the complexities of the transaction, which solidifies Abpro's financial foundations. Legal counsel was provided by Pillsbury Winthrop Shaw Pittman LLP for Atlantic Coastal and Nelson Mullins Riley & Scarborough LLP for Abpro.

About Abpro

Abpro is committed to enhancing human health through innovative antibody therapies. Their mission centers on creating solutions for individuals affected by severe and life-threatening diseases. The company is dedicated to research and development, always striving to push the boundaries of conventional medicine.

Frequently Asked Questions

What is the significance of the business combination between Abpro and Atlantic Coastal?

The business combination will enhance Abpro's capabilities to develop next-generation antibody therapies and expand its market presence.

When is Abpro expected to start trading on Nasdaq?

Abpro is expected to begin trading on Nasdaq under the ticker symbols "ABP" and "ABPWW" shortly after the completion of their business combination.

What are the main therapeutic areas that Abpro focuses on?

Abpro's primary focus areas include HER2+ cancers, Wet AMD/DME, and COVID-19 treatments, leveraging their innovative antibody therapies.

Who is Abpro's key partner in advancing its therapies?

Celltrion, a leading South Korean pharmaceutical company, is a critical partner for Abpro, particularly in the development of ABP 102.

What investment did Celltrion make in Abpro?

Celltrion invested $5 million in Abpro's common stock, indicating strong confidence in Abpro's innovative capabilities.

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