Science 37 Is Going Public Via LifeSci II SPAC Merger

(Bloomberg) -- Science 37 Inc., a digital operating system that facilitates clinical trials, has agreed to go public through a reverse merger with a blank-check company, according to people with knowledge of the matter.

The Los Angeles-based firm will merge with a special purpose acquisition company, LifeSci Acquisition II Corp., said the people, who asked not to be identified because the information is private. Science 37 has an enterprise value of $1.05 billion in the transaction, the people said.

The transaction will include a $200 million private placement from investors, the people said. The deal could be announced as soon as Friday, they said.

Representatives for Science 37 and LifeSci Acquisition II declined to comment.

Science 37, whose name references the normal human body temperature in Celsius, allows patients to participate in trials of new drugs and medical equipment from their own homes.

Researchers use its platform to conduct telehealth check-ins, as well as for administrative tasks such as securing patient consent agreements, according to its website. The company lists Amgen Inc. and Genentech Inc. among its investors and partners.

LifeSci Acquisition II, backed by boutique investment bank LifeSci Capital, raised $80.1 million in November in an initial public offering. It said in its listing documents that it was seeking targets in the biopharma, medical technology, digital health and health-care services sectors.

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