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Three VC firms file confidentially for biotech SPAC

Three investment firms with deep health care investing experience are forming a new SPAC that will seek to buy a diagnostics company and take it public, Axios has learned.

Between the lines: New SPAC formation has slowed, due to a glut of offerings and new SEC scrutiny, but plenty of veteran investors are continuing to jump into the arena.


Details: Venture capital firms ARCH Venture Partners and Section 32 are teaming with Deerfield Management, which invests in both public and private companies.

  • The SPAC already has filed confidentially for its IPO with the SEC. A publicly-available prospectus is expected within the next month or so.

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The U.S. needs a COVID goal

A huge reason why the pandemic response — or the lack of one — feels so chaotic right now is that the U.S. doesn't have a well-defined goal, experts recently argued in a pair of op-eds.

Why it matters: Policy decisions and individual behavioral choices should ideally be aligned in pursuit of an agreed-upon outcome, but as of now, we don't have one.

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Olympics grapple with policies on transgender athletes

TOKYO — After 125 years of having no openly transgender competitors at the Olympics, there are several transgender and nonbinary athletes at this year's Games.

Between the lines: While still small in number, the presence of trans athletes has been a major point of controversy at these Games, coming up repeatedly at IOC press conferences and in newspaper headlines around the world.

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