03:56 PM EDT, 09/20/2024 (MT Newswires) -- Blank-check firm FutureTech II Acquisition ( FTII ) agreed to a merger agreement earlier this week and take Longevity Biomedical public, the companies said Friday.

The combined company will operate as Longevity Biomedical and is expected to list on Nasdaq under the LBIO ticker, the companies said.

The new company will have approximately $26.8 million in cash from FutureTech to fund key development milestones for Longevity's clinical assets, and may also pursue a concurrent pre-transaction private investment in public equity.

Longevity entered into agreements with Cerevast Medical and Aegeria Soft Tissue to acquire all their outstanding equity securities for Longevity common shares, just before closing the merger.

The existing stockholders of Longevity and the boards of both parties approved the transaction, expected to close in Q4, pending customary conditions.

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