RF Acquisition Corp II to merge with Nanyang Biologics in $1.5B SPAC deal; NYB to list on Nasdaq

RF Acquisition Corp II

Business Combination Agreement signed Oct 2, 2025; RFAC II will merge into PubCo, then amalgamate with Nanyang.
Implied enterprise value of $1.5 billion for Nanyang Biologics, an AI drug discovery platform.
Flagship asset NB-A002 targets DDR cancers via previously undruggable ILF2; proprietary AI model DTIGN.
Combined company to list on Nasdaq under reserved ticker "NYB"; board to have 7 directors, 6 designated by Nanyang.
Support agreements secured with 75%+ Nanyang shareholders and founder Alfa 24; lock-up up to 24 months.

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