Revolutionary Chronic Kidney Disease Therapeutics Company ProKidney To List On The Nasdaq Following Business Combination With Social Capital Suvretta Holdings Corp. III
$DNAC
- ProKidney Class A ordinary shares to begin trading on Nasdaq under the ticker symbol “PROK” on July 12, 2022
- ProKidney receives total gross proceeds of approximately $597 million, expected to fund Phase 3 study of REACT™
- PIPE is led by a $125 million investment from Social Capital, with an additional $50 million from existing ProKidney investors, approximately $30 million from Suvretta Capital’s Averill strategy and the remaining $370 million from institutional investors and family offices
- Proceeds will fund ongoing Phase 2 and 3 development program for ProKidney’s lead cell therapy candidate, REACT™, accelerate manufacturing scale-out, and ultimately prepare for its global commercial launch to treat patients with late-stage chronic kidney disease (“CKD”) and at high risk of kidney failure, assuming receipt of regulatory approvals