Biotech entrepreneur Someit Sidhu launches JATT III Acquisition SPAC with $60M Nasdaq IPO

Someit Sidhu, M.D., announced the formation of JATT III Acquisition, a new special purpose acquisition company that raised $60 million in an initial public offering on Nasdaq.

The SPAC will seek to merge with a privately held biotech or life‑science firm, with a particular interest in companies that use data‑driven methods such as machine learning, computational biology, and structure‑based drug design to accelerate therapeutic discovery.

SPAC activity peaked in 2022 and has since slowed, though a few recent deals have kept the model alive, including PrimeGen's Nasdaq debut earlier this year. Sidhu is experienced in this arena, having launched his first SPAC in 2021 and completed a merger with an autoimmune startup through his second vehicle, JATT II.