LifeSci Acquisition Corp. Announces Merger Agreement with Vincera Pharma, Inc. to Create New Publicly Listed Oncology Company - Seite 2

"LSAC was created to identify and partner with an exceptional company poised to execute on a compelling development program that would benefit from our cash resources and a public listing," said Andrew I. McDonald, Ph.D., Chief Executive Officer of LSAC and Founding Partner of LifeSci Partners. “We believe Vincera is the ideal partner for LSAC and are confident that the highly experienced management team, with a proven track record in launching oncology blockbusters, are prepared to lead Vincera as a publicly listed company. This transaction leaves Vincera with a strong balance sheet and well positioned to reach important inflection points to deliver value to our impressive list of stakeholders, while also creating opportunities for new investors in the future.”

Dr. Hamdy said, "Our vision at Vincera is clear. We have assembled a world-class management team with an industry-leading track record for company formation and drug development of targeted oncology therapeutics. We are strategically focused on addressing the unmet medical needs of our patients with the potential for accelerated approvals and look to leverage strong partnerships to build and advance our pipeline. We are thrilled to partner with LSAC and believe this transaction will allow us to fully realize our team’s potential to develop differentiated assets to proof-of-concept, while optimizing their commercial value.”

The Boards of Directors of LSAC and Vincera have unanimously approved the merger and related agreements and transactions. In connection with the merger, stockholders of Vincera and certain stockholders of LSAC will be entering into a voting agreement relating to the nomination and election of directors of the combined company following the merger. Completion of the merger is subject to approval of LSAC’s stockholders; the execution of a definitive license agreement with Bayer providing Vincera with certain rights and obligations with respect to Vincera’s expected product candidates; and other customary closing conditions, including a definitive proxy statement being filed with the Securities and Exchange Commission (the “SEC”). The transaction is currently expected to be completed in the fourth quarter of 2020.