09:22 AM EDT, 09/05/2024 (MT Newswires) -- Keen Vision Acquisition ( KVAC ) and clinical-stage biotech company Medera said Thursday they have agreed to merge in a deal expected to close in Q4.

The combined entity, to be called Medera, will have an implied initial enterprise value of about $622.6 million.

Cash proceeds from the deals in the merger agreement may consist of up to about $149.5 million of cash now held in Keen Vision's trust account, before any redemptions by Keen Vision's shareholders, the companies said.

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