APx Acquisition Corp. I, a publicly traded special purpose acquisition company (SPAC), has announced its plans to merge with OmnigenicsAI Corp and MultiplAI Health Ltd., in a move set to create a prominent entity in the field of precision medicine and AI-driven genomics.
OmnigenicsAI Corp, a precision medicine company incubated by Bioceres Group PLC, and MultiplAI Health Ltd, a UK-based AI-enabled preventive medicine company, will join forces with APx Acquisition Corp. I under a definitive Business Combination Agreement (BCA). Upon the closure of the transaction, OmnigenicsAI will emerge as a publicly listed company on Nasdaq, trading under the ticker symbol "OMNI".
The strategic amalgamation aims to establish a global leader in AI-driven genomics, specializing in the provision of secure, precise, and reliable biological data interpretation. By integrating AI with precision medicine, the combined company will enable the analysis of complex genomic data on an unprecedented scale, facilitating the delivery of highly personalized health insights and therapeutic guidance.
OmnigenicsAI's offerings will encompass a comprehensive suite of health evaluation services, including nutrition-based health risk management, RNA screening for early disease detection, and specialized clinical genetic tests covering oncology, prenatal care, rare diseases, and human microbiome analysis. These services will be complemented by telemedicine consultations with medical geneticists.
The merger is expected to close mid-year, pending approval from APx's shareholders and other customary closing conditions. Upon completion, OmnigenicsAI's shares will be publicly listed on Nasdaq, providing investors with access to a cutting-edge player in the burgeoning field of precision medicine.
The combined company will benefit from a highly accomplished global executive team, enhanced data science and research and development capabilities, as well as an expanded geographic footprint extending beyond Latin America into the United Kingdom and United States. This expansion will be facilitated through strategic clinical and commercial partnerships.
Mark Ramondt, CFO and COO of MultiplAI and CEO nominee of OmnigenicsAI, expressed enthusiasm about the merger, stating, "OmnigenicsAI is pioneering a new category of healthcare that integrates the groundbreaking potential of artificial intelligence with today's access to vast amounts of genomic data, to provide personalized insights that empower individuals to make informed health decisions throughout their lives"
The transaction entails APx merging with Heritas Merger Sub Limited, a wholly owned subsidiary of OmnigenicsAI, with APx becoming the surviving entity. APx's ordinary shares and warrants will be exchanged for ordinary shares and warrants of OmnigenicsAI, which will be listed on Nasdaq under the ticker symbols "OMNI" and "OMNIW", respectively.
As part of the deal, OmnigenicsAI's controlling shareholder, Heritas Ltd, will acquire 100% of the outstanding shares and convertible securities of MultiplAI. MultiplAI will subsequently become a wholly owned subsidiary of OmnigenicsAI, further enhancing the company's offerings in preventive medicine and AI-driven diagnostics.
The merger underscores APx Acquisition Corp. I's commitment to pursuing innovative ventures in the healthcare sector, particularly in the realm of precision medicine and AI-driven technologies. With the combined expertise and resources of OmnigenicsAI and MultiplAI, the newly formed entity is poised to make significant strides in revolutionizing healthcare delivery through advanced genomics and artificial intelligence.
