NEW YORK & SAN DIEGO– Revelation Biosciences, Inc. (“Revelation”), a clinical-stage life sciences company focused on the development of immunologic‑based therapies for the prevention and treatment of disease, and Petra Acquisition, Inc. (“Petra”) (NASDAQ: PAICU, PAIC, & PAICW), a special purpose acquisition company (“SPAC”), today announced they have entered into a definitive merger agreement for a business combination that will result in Revelation becoming a publicly traded company.
In 2019, lower respiratory tract infections (LRTIs), including pneumonia and bronchiolitis, affected 489 million people globally. During the 2019-2020 season, the CDC estimates that influenza was associated with 38 million illnesses, 18 million medical visits, 405,000 hospitalizations, and 22,000 deaths.
The burden of respiratory infections on the healthcare system and economy is significant, with respiratory infections leading to more doctor visits and absences from school and work than any other illness. In addition, recent studies suggest a troubling increase in deaths from these viruses.
Beyond this, a recent study from Houston Methodist shows a rapid return of seasonal respiratory viruses after COVID-19 restrictions were relaxed in the state of Texas. In England, positive RSV samples among suspected cases in children have increased from 1.2% to 8.9%, which is of particular concern to local health leaders given the disease is most common during the winter months.
The global pandemic brought on by COVID-19, with over 4.4 million deaths globally, has only heightened the need for easy-to-use, effective therapies that prevent the user from becoming infected, or that activate the innate immune system to combat early infections.
As respiratory infections impact populations and economies around the world – including the global pandemic brought on by COVID-19 – Revelation is developing innate immune system based therapeutics and diagnostics for the identification, prevention and treatment of respiratory diseases.
Revelation – Proven Leadership with Extensive Product Development Experience Across Multiple Indications
Revelation’s leadership and scientific teams bring extensive product development experience across multiple indications, spanning all stages of drug development, including 8 FDA and EMA approvals. The leadership team has a successful track record in multiple startups and turn-arounds including, 3 NASDAQ and 1 NYSE listings.
