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§ Private Profile · 51 ASTOR PLACE 10TH FLOOR NEW YORK NY 10003 USA
A SPAC formed to merge with and take public private businesses in the healthcare and life sciences industries.
Key people at Arya Sciences Acquisition Corp II.
Arya Sciences Acquisition Corp II is a New York-based special purpose acquisition company formed to effect a merger, share exchange, or similar business combination with a focus on the healthcare and life sciences sectors. The blank-check firm targets medical technology and biotechnology businesses valued between $300 million and $500 million that possess the potential to reach a $1 billion market capitalization. Backed by underwriters Jefferies and Goldman Sachs, the entity successfully raised $149.5 million during its June 2020 initial public offering while operating with just two employees. In October 2020, the firm completed a business combination with neuroscience company Cerevel Therapeutics, creating a combined publicly traded entity with an implied initial enterprise value of approximately $847 million. The organization was founded in 2020 by its sponsor, Perceptive Advisors, under the leadership of Joseph Edelman, Adam Stone, and Michael Altman.
Key people at Arya Sciences Acquisition Corp II.
Arya Sciences Acquisition Corp II (Arya II) is a special purpose acquisition company (SPAC), or blank-check company, formed to raise capital via an IPO and merge with a target in biotechnology, life sciences, or healthcare technology.[2][3][6] Sponsored by affiliates of Perceptive Advisors and RA Capital Management, it targeted high-growth firms with novel drug candidates or platform technologies, particularly those advancing precision medicine.[1][2][4] Incorporated in early 2020 (initially Cayman Islands, later redomiciled to Delaware), it completed its $130-150 million IPO in June 2020 at $10 per unit under ticker ARYBU on Nasdaq (later OTC).[6][7]
Arya II merged with Cerevel Therapeutics in October 2020, creating Cerevel Therapeutics Holdings, Inc. (Nasdaq: CERE) with ~$1.3 billion market cap and $445 million in net proceeds from PIPE investors like Perceptive, RA Capital, and others.[1][4][7] Post-merger, Arya II ceased independent operations, delivering public market access to Cerevel's neuroscience pipeline targeting schizophrenia, epilepsy, Parkinson's, and substance use disorders.[1]
Arya II was incorporated in February 2020 (per some records; IPO filings note 2020 founding) as a Cayman Islands exempted company, sponsored by ARYA Sciences LLC (affiliate of RA Capital Management) and Perceptive Advisors.[2][6][8] Key figures included CEO Adam Stone and a management team from RA Capital's healthcare investment group, leveraging expertise in biotech deal sourcing and execution.[2][7] The SPAC went public on June 5, 2020, raising ~$149.5 million fully in trust, underwritten by Jefferies and Goldman Sachs, with a 24-month tenor to find a target.[6][7]
Just over a month later, on July 30, 2020, it announced a business combination with Cerevel Therapeutics, a clinical-stage biotech unlocking neurocircuitry-based treatments.[1][7] Shareholder approval came October 26, 2020, closing October 27—expediting Cerevel's public debut amid 2020's SPAC boom in life sciences.[7]
Arya II rode the 2020 SPAC surge in biotech, fueled by low rates, retail investor enthusiasm, and demand for public biotech exposure amid COVID-accelerated innovation.[1][7] Timing was ideal: precision medicine and neuroscience were exploding, with neurocircuitry approaches addressing unmet needs in brain disorders.[1] Market forces like PIPE commitments from institutional heavyweights de-risked deals, influencing the ecosystem by fast-tracking ~20 clinical assets to public funding without traditional IPO hurdles.[1][4] It exemplified how SPACs democratized access for life sciences startups, boosting M&A in healthcare tech.
Arya II successfully exited via Cerevel merger, transitioning from blank-check to catalyst for neuroscience innovation—no longer active as a SPAC.[7] Cerevel (post-merger) advanced its pipeline, though later acquired by AbbVie in 2024 for $8.7 billion, underscoring the model's long-term impact.[1] Future SPAC iterations may face regulatory scrutiny and market cooldown, but Arya II's blueprint—specialized focus, strong networks—will shape selective biotech de-SPACs amid AI-driven drug discovery trends. This deal humanized high-stakes life sciences investing, proving SPACs' power to unlock brain science breakthroughs.[1][2]
