They are a newly incorporated blank check company. While they may pursue an initial business combination opportunity in any industry or geographical location, they intend to capitalize on their management team’s background and experience to identify innovative companies in the biotechnology sector that are domiciled in North America or Europe. Their sponsor is an affiliate of EcoR1, an investment firm with over $2.7 billion in regulatory assets under management as of December 31, 2020. EcoR1 was established in March 2013 by their Chief Executive Officer, Oleg Nodelman, and is focused on therapeutic companies within the biotechnology sector. They believe the experience of their team, strengthened by their industry network and their experienced board of directors, will enhance their management team’s ability to source viable prospective target businesses, capitalize them and ensure public-market readiness. They believe that their management team is equipped with the knowledge, experience, capital and human resources to pursue unique opportunities that will offer attractive risk-adjusted returns.