Minovia Therapeutics to merge with Launch One Acquisition Corp. in $500mln deal.

Minovia Therapeutics, a clinical-stage biotech company, is merging with Launch One Acquisition Corp, a special purpose acquisition company, to form a new publicly traded biotech company focused on developing and commercializing Mitochondrial Augmentation Technology (MAT) to address various diseases caused by mitochondrial dysfunction. The proposed business combination will create a company with a broad spectrum of disease targets, from rare pediatric disorders to common adult conditions.

HAIFA, Israel, and GEORGE TOWN, Cayman Islands, June 19, 2025 — Minovia Therapeutics Ltd. (“Minovia” or the “Company”) and Launch One Acquisition Corp. (Nasdaq: LPAA, “Launch One”) have announced a definitive business combination agreement to create a publicly traded, clinical-stage biotechnology company focused on developing and commercializing Mitochondrial Augmentation Technology (MAT). This technology targets a broad spectrum of diseases driven by mitochondrial dysfunction, from rare pediatric disorders to common adult conditions.

The proposed business combination will create a new entity, Mito US One Ltd., which is expected to be listed on Nasdaq. The transaction aims to provide Minovia with additional capital to facilitate its growth and development pipeline, including reaching clinical and regulatory milestones, technology transfer, and the eventual commercial launch of its longevity-focused offerings from the MAT platform.

The combined entity will leverage Minovia's clinical-stage platform and Launch One's financial backing to advance its pipeline. Minovia's lead product, MNV-201, is currently in Phase 2 trials for Pearson Syndrome and has shown promising results in treating mitochondrial diseases and aging-related dysfunction.

Minovia's CEO, Natalie Yivgi-Ohana, Ph.D., commented, “Minovia is pioneering a new category of mitochondrial therapy that targets the root cause of disease and aging—mitochondrial failure. Our research has demonstrated durable safety and life-changing impact in patients, including children with genetic mitochondrial disease and older adults with hematologic and kidney dysfunction. Supported by clinical data, FDA Fast Track Designation, and a clear path to pivotal trial, we believe our MAT platform is uniquely positioned to drive value across both rare disease and the fast-growing longevity market.”

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions and shareholder approvals. Launch One's trust account currently holds approximately $239.7 million in cash, a portion of which may be available to the combined company following the transaction.

Minovia's MAT platform is designed to enrich diseased cells with healthy and functional mitochondria, effectively recharging the body’s cellular batteries and restoring energy essential for healing, resilience, and long-term health. This approach is backed by a deep patent portfolio, scalable manufacturing, a decade of research and development, and supported by clinical data.

Chris Ehrlich, CEO of Launch One Acquisition Corp., added, “Minovia provides a clinical-stage platform with the potential to lead an entirely new category of cell therapy. FDA Fast Track designation, patient responses across multiple diseases, and a robust pipeline position Minovia as a first mover in advanced mitochondrial medicine. The company is advancing toward pivotal trials and we expect it will be bringing U.S.-based GMP manufacturing online by the end of 2025, allowing it to scale both its rare disease and longevity programs globally.”

The business combination assigns Minovia a pre-money equity valuation of $180 million, which will be increased by additional proceeds from a bridge financing of at least $5 million. The transaction is expected to provide Minovia with the necessary capital to reach its clinical and regulatory milestones and commercial launch of its longevity-focused offerings.

References:
[1] https://www.globenewswire.com/news-release/2025/06/25/3105093/0/en/Minovia-Therapeutics-Ltd-and-Launch-One-Acquisition-Corp-Announce-Proposed-Business-Combination-to-Create-Nasdaq-Listed-Mitochondrial-Therapy-Company-in-1-Trillion-Mitochondrial-an.html