GUILFORD — A medical technology company founded by entrepreneur Dr. Jonathan Rothberg is going to become a publicly-traded company via a $1.46 billion merger.
Rothberg’s company, Quantum-Si, is merging with HighCape Capital Acquisition Corp., a special purpose acquisition company. The deal is expected to close in the second quarter of this year.
Special purpose acquisition companies are shell corporations whose sole purpose is to take a company public without having to go through a traditional initial public offering. When the deal closes, Quantum-Si’s stock will trade on the Nasdaq stock market under the ticker symbol QSI
Rothberg will become executive chairman of the combined company when the deal closes. He said part of the goal in taking the company public is to “continue to democratize medicine, by developing the field of proteomics to make a significant impact on drug discovery, academic research, and diagnostics.”
Proteomics is the large-scale study of proteins, which are vital parts of living organisms. Using semiconductor to sequence proteins allows for the creation of more sensitive and accurate research tools and diagnostics.
“I was lucky enough to be involved in the invention of next-generation DNA sequencing,” Rothberg said. “So it’s fitting that my team will bring next-generation protein sequencing to the world. DNA sequencing changed medicine and research by revealing what could happen in the body; protein sequencing shows what is happening right now.”