TriGemX Bio to go public via SPAC to advance migraine drug candidate

TriGemX Bio, formerly known as Kallyope, said it will become a public company by merging with a special purpose acquisition company. The transaction is aimed at raising capital and accelerating the development of its migraine drug candidate.

The company expects the SPAC deal to give it the financial resources needed to move the therapy through late-stage trials and toward regulatory approval.

While SPAC listings have fallen out of favor compared with traditional IPOs, TriGemX Bio views the approach as a practical way to bring its migraine prospect to market.