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The Latest SPAC News and Rumors: May 16, 2023


The Latest SPAC News and Rumors: May 16, 2023

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  AlTi Global buys Singapore wealth firm AL Wealth Partners and YS Biopharma’s PIKA rabies vaccine receives phase 3 clinical trial approval

Alti Global Buys Singapore Wealth Firm For Asia Expansion

AlTi Global Inc. (NASDAQ:ALTI) has agreed to buy Singaporean money manager AL Wealth Partners, joining the rush of firms tapping the rapid rise of wealthy families in the city-state and across Southeast Asia.

AlTi was formed in January through a SPAC deal that combined Alvarium Investments and Tiedemann Wealth Management Holdings. The company had about $65 billion in assets under management or advisory as of December.


YS Biopharma’s PIKA Rabies Vaccine Receives Phase 3 Clinical Trial Approval in Pakistan

YS Biopharma Co., Ltd. (NASDAQ: YS), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and commercializing new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced its PIKA Rabies Vaccine has received Phase 3 clinical trial approval from the Drug Regulatory Authority of Pakistan (“DRAP”). The Phase 3 clinical trial will evaluate the safety and immunogenicity of the Company’s PIKA Rabies Vaccine in preventing rabies infection.

YS Biopharma completed its business combination with Summit Healthcare in March.