Tony Coles takes second neuroscience startup public as Yumanity reverse merges

Maybe Tony Coles just doesn’t like IPOs.

A month after taking one of his two neuroscience biotechs — Cerevel — public as part of a $445 million SPAC transaction, the longtime executive and drug developer is taking the other one public as part of a reverse merger. Yumanity Therapeutics will reverse merge with struggling cystic fibrosis biotech Proteostasis Therapeutics.