Cerevel Therapeutics, co-founded by Pfizer, is set to undertake a reverse merger with Nasdaq-listed Arya II in a deal that will give Cerevel a market cap of $1.3bn.

Cerevel Therapeutics, a US-based developer of treatments for central nervous system disorders backed by pharmaceutical firm Pfizer, yesterday announced its intention to undertake a reverse merger with Arya Sciences Acquisition Corp II. A group of investors, including Pfizer, are set to invest $320m through a private investment in public equity (Pipe) deal that will be…

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