Oak Hill Bio and Research Alliance Corporation III Announce Business Combination Agreement to Create Publicly Listed Rare Disease Biotechnology Company to Advance Antisense Oligonucleotide Therapy Rugonersen for Angelman Syndrome
Transaction to provide Oak Hill Bio with approximately $175 million in gross proceeds, including $75 million of cash in Research Alliance Corporation III's (Nasdaq: RACC) (“RACC”) trust account that is fully backstopped by RA Capital Management and a $100 million committed private financing. Together with Oak Hill Bio's recent $32.5 million Series A financing, the transaction is expected to provide cash runway for development of rugonersen, a potential best-in-class antisense oligonucleotide (ASO) for the treatment of Angelman syndrome, through Phase 3 readout and potential new drug application (NDA) submission in 2H2029.
GlobeNewsWire7/27/2026Neutral