09:29 AM EDT, 06/25/2025 (MT Newswires) -- Launch One Acquisition ( LPAA ) and Minovia Therapeutics said Wednesday they have entered into a business combination agreement to create a mitochondrial therapy company that will operate as Mito US One and is expected to be listed on Nasdaq.

Launch One, a health care-focused special purpose acquisition company, and Minovia, a clinical-stage biotechnology firm, said the deal assigns Minovia a $180 million pre-money equity valuation.

The valuation will be boosted by additional proceeds into Minovia anticipated from a bridge financing of at least $5 million, to be paid to Minovia equity holders in the combined company's newly issued shares, the companies said.

Minovia equity holders are also eligible to potentially get additional shares worth $57.5 million as an earnout after the deal closes, expected to occur in Q4, the companies said.

Also expected are private investment in public equity investments of at least $18 million at closing, on top of remaining cash held in Launch One's trust account after shareholder redemptions, the companies added.

They said the net proceeds will be used for Minovia's clinical milestones, regulatory approvals and the commercial launch of longevity-focused products.