WOBURN, Mass.– Comera Life Sciences Holdings, Inc. (“Comera” or the “Company”), which is developing a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience, today announced the completion of its business combination with OTR Acquisition Corp. (Nasdaq: OTRAU, OTRA and OTRAW) (referred herein as “OTR”), a publicly traded special purpose acquisition company (SPAC). Comera Life Sciences Holdings, Inc., the resulting combined company, will commence trading on the Nasdaq Capital Market under the symbol “CMRA” on May 20, 2022. OTR’s shareholders approved the transaction on May 10, 2022. The transaction was previously approved by Comera’s shareholders. Comera’s management team will continue to be led by Jeff Hackman, Chief Executive Officer and Chairman of Comera.
“Transforming the delivery of biologics from intravenous to subcutaneous forms has the potential to reduce healthcare costs and improve patient quality of life by offering patients self-injectable treatments that support greater independence. With multiple pharmaceutical partnerships already in place, we are executing on our long-term strategy to leverage our SQore™ platform,” said Mr. Hackman. “I want to thank the many individuals and firms involved in completing this transaction, including the team at OTR and our existing and new investors.”
“We are proud to support Comera as it transitions to a public company and continues the development of new bio-innovative medicines, which are intended to expand patient access, safety, and convenience, reducing healthcare costs while improving quality of life,” said Nicholas J. Singer, Chairman and Chief Executive Officer of OTR. “There is tremendous opportunity in this multi-billion dollar market to transform the patient treatment experience.”
On January 31, 2022, Comera Life Sciences, Inc., a privately held biotechnology company, entered into a definitive business combination agreement with OTR Acquisition Corp., a SPAC whose team is comprised of growth-oriented executives with a long track record of value creation across industries, including life sciences, bringing over 100 years of combined investing and operating experience to this business combination.
The description of the business combination contained herein is only a high-level summary and is qualified in its entirety by reference to the underlying documents filed with the U.S. Securities and Exchange Commission. A more detailed description of the terms of the transaction has been provided in a proxy statement/prospectus filed with the U.S. Securities and Exchange Commission on April 15, 2022.
