FoxWayne, Aerami Therapeutics SPAC Deal Said Worth $195 Million

According to people familiar with the matter, Aerami Therapeutics is holding talks with blank-check firm FoxWayne Enterprises about a potential merger that could value the combined company at about $195 million, reported Bloomberg.

FoxWayne executed a non-binding letter of intent with Aerami earlier this month, according to a securities filing, which did not disclose the transaction size.

Aerami's key therapies include inhaled imatinib, which treats pulmonary arterial hypertension, its website shows.

The company also makes an inhaler known as Afina, which it says uses technology to "optimize the precise delivery of therapeutics to the lungs in seconds."

It purports to deliver about 80% of the drug to the lungs, which it says is two to four times higher than conventional inhalers, Bloomberg said.

Meanwhile, the people said a deal with FoxWayne is yet to be finalized, and terms could still change. Aerami counts companies including Aerovate Therapeutics, which went public in June, among its peers.