Small biotech chaired by ex-Purdue CEO Mark Timney jumps into the SPAC lane

The latest biotech SPAC has landed, and it’s one featuring Purdue Pharma’s former CEO, Mark Timney.

Blade Therapeutics announced its plans Monday to reverse merge with the bluntly named Biotech Acquisition Company in a $254.3 million deal. Timney, who currently serves as Blade’s executive chairman, will retain the same role once the combined company completes the merger in the first quarter of 2022.