JATT mastermind launches latest biotech-focused SPAC via $60M IPO

Biotech JATT mastermind launches latest biotech-focused SPAC via $60M IPO By James Waldron Aug 26, 2026 9:45am special purpose acquisition company Nasdaq Biotech Just two months after Someit Sidhu, M.D., succeeded in pairing off his second special purpose acquisition company (SPAC) with Talawar Therapeutics, the biotech entrepreneur is back at it again. Sidhu’s latest SPAC, dubbed JATT III Acquisition, listed on the Nasdaq this morning via a $60 million IPO. The company is tasked with finding a privately listed biotech or similar life sciences business that it can then take public via a reverse merger.

The company made clear in its Aug. 26 release that it has yet to select a specific business to merge with. But the SPAC did explain that it will focus “particularly, though not exclusively, on businesses applying data-driven approaches, including machine learning, computational biology, structure-based drug design and related technologies, to improve the therapeutic discovery and development process.” The SPAC path to the public markets hit peak popularity among biotechs back in 2022, with interest in the model having since died down.

However, there have been a few notable examples in recent months, including stem cell company PrimeGen, which launched onto the Nasdaq via a SPAC in February. JATT III’s CEO Sidhu is no stranger to this model. He launched his first SPAC, JATT Acquisition, onto the New York Stock Exchange back in 2021 and oversaw its merger with autoimmune startup Zura Bio in 2023.

Sidhu led the publicly listed Zura as CEO for a year and stayed on as director into 2026. In April, he launched JATT II, which wasted no time in finding a partner, merging with immunology and inflammatory disease biotech Talawar in June. While Sidhu is persevering with the SPAC route, a growing number of biotechs have been returning to the traditional IPO path to the public markets.

This has included record-breaking listings from Kailera Therapeutics and Parabilis Medicines. special purpose acquisition company Nasdaq Biotech