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Vela Technologies PLC - Bradford, England-based investment firm focused on early-stage and pre-IPO disruptive technology investments - Notes announcement by Conduit Pharmaceuticals Ltd that it intends to become a publicly traded company on the Nasdaq in the US through a merger with special purpose acquisition firm Murphy Cannon Acquisition Corp. The deal is expected to generate $149.7 million worth of proceeds for Conduit. Vela holds an interest in the commercialisation of AZD1656, a possible Covid-19 treatment, and one of Conduit's assets.
Current stock price: 0.028 pence, closing 50% higher in London on Wednesday
12-month change: down 54%
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