AI-Driven Drug Discovery Platform Nanyang Biologics Set for Nasdaq Debut via SPAC Merger

Nanyang Biologics (NYB), a Singapore-based artificial intelligence-driven drug discovery platform, is poised to make its entrance on the Nasdaq through a reverse merger with RF Acquisition Corp II (RFA), a special purpose acquisition company. The deal, announced on October 2, 2025, values NYB at $1.5 billion and is expected to close by the second quarter of 2026.

Innovative AI Platform Targets Natural Compounds

NYB has developed a proprietary AI engine, known as DTIGN, in collaboration with Nanyang Technological University Singapore. This platform is designed to explore the therapeutic potential of natural compounds, accelerating the discovery process across various modalities including small molecules and biologics.

Roland Ong, Ph.D., NYB's group chairman, highlighted the platform's capabilities: "Our proprietary DTIGN platform has mapped vast numbers of natural compounds and identified promising candidates, strengthening the feasibility of a new era of drug development."

The company aims to create the "world's largest AI-curated natural compound libraries" and has secured support from tech giants such as Hewlett Packard Enterprise and data center provider Equinix.

Promising Preclinical Pipeline

NYB's pipeline currently features five preclinical molecules, all derived from tropical medicinal plants. The lead candidate, NYH002, targets ILF2 and is being developed for HRD-positive, chemo-resistant cancers. The company believes this asset could offer a superior alternative to PARP inhibitors in treating various solid tumors, including ovarian, breast, and lung cancers.

Other pipeline candidates include NB-C201 for cardiovascular health and NB-C301 for mental health conditions. Ong noted the potential of their lead molecule, stating, "Our lead molecule NB-A002 introduces a novel approach to treating solid tumors, and we are honored to have received a clinical trial invitation from the head of oncology at one of the world's top universities."

SPAC Resurgence in Biotech

The NYB-RFA merger marks a notable event in the recent landscape of SPAC deals within the biotech sector. While such transactions have become less frequent in recent years, 2025 has seen a small resurgence, with other examples including German antibody biotech Veraxa and BridgeBio Oncology Therapeutics also pursuing this route to go public.

Tse Meng Ng, RF Acquisition Corp II's CEO, expressed confidence in the merger, stating, "We believe NYB is uniquely positioned to transform the future of medicine by addressing areas of high unmet medical need."