QYUNS-B (02509) disclosed on July 29, 2026, that its partner, Caldera Therapeutics, Inc., has entered into a definitive merger agreement with Synlogic, Inc. (OTC: SYBX). This transaction is structured as an all-stock combination.
The merger will be executed through a newly formed holding company, where both Caldera Therapeutics and Synlogic will become its wholly owned subsidiaries. Upon completion, the combined entity will operate under the name Caldera Therapeutics, Inc. and is expected to trade on the Nasdaq Capital Market under the ticker symbol "CALD."
To support the proposed merger, Caldera Therapeutics has secured commitments for a concurrent, upsized private placement. This financing is anticipated to generate gross proceeds of approximately $278 million. The syndicate includes a consortium of leading healthcare-focused institutional investors and mutual funds, such as Bain Capital Life Sciences, TCGX, Atlas Venture, venBio Partners, Omega Funds, Blackstone MultiAsset Investing, LAV, Wellington Management, Janus Henderson Investors, Sirenia Capital Management LP, Vivo Capital, and several other mutual funds and institutional investors.
The funds raised are intended to support Phase II clinical development of QX030N/CLD-423 for ulcerative colitis and Crohn's disease, as well as potential development for other immune-mediated conditions. The financing is expected to close concurrently with the merger, subject to customary closing conditions.
QYUNS-B confirmed that it is not participating as an investor in this private placement and has not provided any financial accommodation or guarantee. The capital raising is being conducted solely by Caldera Therapeutics. According to the merger agreement, upon completion, pre-merger Synlogic shareholders are projected to hold approximately 2.3% of the combined company, pre-merger Caldera Therapeutics shareholders are expected to own about 62.8%, and investors in the concurrent private placement are anticipated to hold roughly 34.9%. The ownership percentage for Synlogic shareholders at closing will be adjusted based on Synlogic's estimated net cash position immediately prior to the completion date.