Nautilus Biotechnology Debuts as Publicly Traded Company, Seeks to Deliver on the Untapped Potential of the Human Proteome
June 09 2021 - 10:05PM
Nautilus Biotechnology, Inc., a company pioneering a
single-molecule protein analysis platform for quantifying the
proteome, today announced the completion of its business
combination with Arya Sciences Acquisition Corp III (Nasdaq: ARYA;
or “Arya III”), a special purpose acquisition company (SPAC)
sponsored by Perceptive Advisors. The combined company, Nautilus
Biotechnology, Inc. (“Nautilus”), will commence trading shares of
its common stock under the ticker symbol “NAUT” on the Nasdaq
Global Select Market on June 10, 2021.
The business combination was approved by Arya III’s shareholders
on June 8, 2021. The transaction had been previously approved by
Nautilus shareholders. Gross proceeds from this transaction totaled
approximately $345 million, which included approximately $145
million of funds held in Arya III’s trust account and the
concurrent common stock private investment in public equity (PIPE)
financing of $200 million led by Perceptive Advisors, an affiliate
of Arya III’s sponsor, as well as RA Capital Management, Ally
Bridge Group, Bain Capital Life Sciences, Franklin Templeton
Investments, OrbiMed, Alyeska Investment Group, L.P., Casdin
Capital and existing Nautilus Biotechnology shareholders including
Andreessen Horowitz, Madrona Venture Group, and Vulcan Capital. The
Nautilus management team, led by its founders Chief Executive
Officer Sujal Patel and Chief Scientist Parag Mallick, will
continue to lead the combined company.
“At Nautilus, we have reimagined how to comprehensively analyze
and quantify the proteome. In doing so, we are seeking to create a
new gold standard in the field of proteomics that will lead to
positive impacts on human health,” said Sujal Patel, CEO of
Nautilus. “We believe our technology will change the scale of what
is possible in proteomics in an effort to enable significant
advancements in drug development and help revolutionize the way
biomedical research is conducted.”
Nautilus is developing a protein analysis platform with the
potential to identify more than 95% of the proteome. Integrated
with breakthrough innovations in computer science, engineering, and
biochemistry, the Nautilus Proteomic Analysis Platform is designed
to leverage a nanofabricated, large-scale, single-molecule protein
array, multi-cycle imaging, and machine learning analysis to
measure the proteome with extreme sensitivity and scale.
“By combining a team of experienced leaders from both technology
and life sciences with an unprecedented and truly innovative
approach to proteomics, we believe that Nautilus is poised to not
only elevate, but radically reinvent our understanding of the
proteome,” said Adam Stone, Chief Investment Officer of Perceptive
Advisors and former CEO of Arya III. “We are proud to partner with
Nautilus in hopes of driving the proteomics revolution toward
better health and medical interventions.”
“We’re committed to taking a bold scientific leap toward
democratizing access to the proteome and transforming how human
disease is fundamentally understood and treated,” said Parag
Mallick, Chief Scientist of Nautilus. “By delivering the
simplicity, speed, sensitivity and ubiquity that will truly unlock
the potential of the proteome, we believe we can open a path to
endless opportunities in scientific discovery, from discovering new
therapies and diagnostics to revolutionizing basic science
research.”
Note Regarding Summary of TransactionThe
description of the business combination contained herein is only a
high-level summary and is qualified in its entirety by reference to
the underlying documents filed with the U.S. Securities and
Exchange Commission (“SEC”). A more detailed description of the
terms of the transaction has been provided in a registration
statement on Form S-4 filed with the SEC BY Arya III, which the SEC
has declared effective and which contains a definitive proxy/final
prospectus relating to the transaction.
AdvisorsMorgan Stanley acted as lead financial
advisor to Nautilus Biotechnology. Cowen also acted as financial
advisor to Nautilus Biotechnology. Jefferies LLC and Goldman Sachs
& Co. LLC acted as financial advisors to Arya III as well as
private placement agents. Wilson Sonsini Goodrich & Rosati,
P.C. acted as legal counsel to Nautilus Biotechnology. Kirkland
& Ellis LLP acted as legal counsel to Arya III.
About Nautilus Biotechnology, Inc.Based in
Seattle, Washington, Nautilus is a development stage life sciences
company creating a platform technology for quantifying and
unlocking the complexity of the proteome. Nautilus’ mission is to
transform the field of proteomics by democratizing access to the
proteome and enabling fundamental advancements across human health
and medicine. To learn more about Nautilus, visit nautilus.bio
Special Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of federal securities laws. You can
identify forward-looking statements by words such as “may,” “will,”
“could,” “can,” “would,” “should,” “expect,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “poised,” “continue,” “ongoing” or the negative of
these terms or other comparable terminology, but not all
forward-looking statements will contain these words.
Forward-looking statements in this press release include, but are
not limited to, statements regarding the potential functionality
and performance of Nautilus’ product platform, its potential impact
on pharmaceutical development and drug discovery, and market
opportunities available to Nautilus generally. These statements are
based on numerous assumptions concerning the development of
Nautilus’ products and target markets and involve substantial
risks, uncertainties and other factors that may cause actual
results, levels of activity, performance or achievement to be
materially different from the information expressed or implied by
these forward-looking statements. We cannot assure you that the
forward-looking statements in this press release or the assumptions
upon which they are based will prove to be accurate. Risks and
uncertainties that could materially affect the accuracy of
Nautilus’ assumptions and its ability to achieve the
forward-looking statements set forth in this press release include
(without limitation) the following: Nautilus’ product platform is
not yet commercially available and remains subject to significant
scientific and technical development, which is inherently
challenging and difficult to predict, particularly with respect to
highly novel and complex products such as those being developed by
Nautilus. Even if our development efforts are successful, our
product platform will require substantial validation of its
functionality and utility in life science research. In the course
of Nautilus’ scientific and technical development and associated
product validation and commercialization, we may experience
material delays as a result of unanticipated events. We cannot
provide any guarantee or assurance with respect to the outcome of
our development and commercialization initiatives or with respect
to their associated timelines. For a more detailed description of
additional risks and uncertainties facing Nautilus and its
development efforts, investors should refer to the Registration
Statement on Form S-4 and related filings filed by Arya III with
the SEC. The forward-looking statements in this press release are
as of the date of this press release. Except as otherwise required
by applicable law, Nautilus and Arya III disclaim any duty to
update any forward-looking statements. You should, therefore, not
rely on these forward-looking statements as representing our views
as of any date subsequent to the date of this press release.
Media ContactThermal for Nautilus
BiotechnologyKaustuva Daspress@nautilus.bio
Investor
Contactinvestorrelations@nautilus.bio
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