Oak Hill Bio to go public via SPAC merger, securing $175 million for Angelman syndrome program

Oak Hill Bio announced it will become a publicly traded company through a merger with the special purpose acquisition company Research Alliance Corporation III.

The transaction will provide $75 million from the SPAC plus an additional $100 million in committed private financing, giving the company roughly $175 million to advance its lead antisense therapy rugonersen.

Rugonersen, licensed from Roche in 2025, is being developed for Angelman syndrome, a rare neurodevelopmental disorder.

The SPAC is sponsored by RA Capital Management, which has backed several notable biopharma companies, and the merger is expected to close by year‑end, after which Oak Hill will trade on Nasdaq under the ticker OAKH.