Alzheimer’s company Korsana heads to NASDAQ via merger: Deals Report

While three more billion-dollar M&A deals dominated headlines during the week, continuing a run of takeouts, another company from the Fairmount Funds-backed Paragon incubator has found a reverse-merger partner and set up a large PIPE deal for when it closes.

Less than two months after Korsana Biosciences Inc. emerged from stealth mode, the well-funded neuroscience company has found a path to the public markets via a merger with Cyclerion Therapeutics Inc. (NASDAQ:CYCN). Following the all-stock transaction, Korsana’s shareholders will possess about 98.5% of the company’s equity, with Cyclerion’s shareholders retaining 1.5%. The company will take Korsana’s name, and trade under the ticker KRSA...