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Charlotte Schubert / GeekWire

Intrinsic Medicine Terminates $178.8M SPAC Deal With Phoenix Biotech Amid Market Downturn

Seattle biotech startup Intrinsic Medicine's planned $178.8 million SPAC merger with Phoenix Biotech Acquisition Corp. has been terminated due to market conditions. The company had previously withdrawn its traditional IPO filing and plans to advance clinical trials for its sugar-based therapeutic molecules.

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Seattle Flow

Your front door to Seattle's startup scene.

Seattle's startup scene is scattered across a hundred feeds, newsletters, and calendars. Seattle Flow brings it together: the news, events, podcasts, and people, plus what the community is saying about them. Every link sends you to the source.

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