Quanxin Bio-B (02509) partner Caldera Therapeutics plans to merge with Synlogic to list on NASDAQ and raise US$278 million at the same time

According to Zhitong Finance App, Quanxin Bio-B (02509) announced that on July 29, 2026, the company's partner Caldera Therapeutics, Inc. (OTC market code: SYBX) (Synlogic) entered into a final merger agreement to carry out a full stock transaction merger. The merger will be realized through Caldera Therapeutics and Synlogic becoming wholly-owned subsidiaries of a newly formed holding company. Once completed, the merged company will operate under the name Caldera Therapeutics, Inc. and is expected to trade under the stock symbol “CALD” on the NASDAQ capital market.

To support the proposed merger, Caldera Therapeutics has received a commitment to expand simultaneous private placement, which is expected to be funded from a range of leading healthcare institutional investors and mutual funds (including Bain Capital Life Sciences, TCGX, Atlas Venture, VenBio Partners, Omega Funds, Blackstone MultiAsset Investing, LAV, A syndicate composed of Wellington Management, Janus Henderson Investors, Sirenia Capital Management LP, Vivo Capital, and a number of other mutual funds and other institutional investors) raised a total of approximately US$278 million. The funding is expected to support phase II clinical development of QX030N/CLD-423 for ulcerative colitis and Crohn's disease, as well as potential development for other immune-mediated diseases. The financing is expected to be completed at the same time as the merger, subject to customary completion conditions. The company confirmed that it did not participate in the private placement as an investor and did not provide any financial facilitation or guarantee in this regard. This private placement was solely funded by CalderaTherapeutics.

According to the merger agreement, when the proposed merger is completed, the pre-merger Synlogic shareholders are expected to own about 2.3% of the merged company's shares, CalderaTherapeutics shareholders before the merger are expected to own about 62.8% of the merged company's shares, and investors participating in simultaneous private equity financing are expected to own about 34.9% of the merged company's shares. The percentage of ownership of the consolidated company that Synlogic shareholders will have at completion of the proposed merger will be adjusted based on Synlogic's estimated net cash amount immediately prior to the completion date.