GFOR - SPAC Graf IV signs merger LOI with immunotherapy developer NKGen Biotech

2023-03-24 15:17:15 ET

SPAC Graf Acquisition Corp. IV ( NYSE: GFOR ) has signed a non-binding letter of intent to merge with immunotherapy developer NKGen Biotech.

Graf IV said it would release more details about the deal when a definitive agreement is reached.

Based in Santa Ana, Calif., NKGen Biotech is working on developing natural killer cell therapies for the treatment of neurodegenerative disorders and cancer.

In March, Graf IV was reported to be in merger talks with roadside assistance company Urgently.

Graf IV was founded by James Graf, whose SPAC Graf Industrial took Velodyne Lidar (VLDR) public in 2020. Velodyne merged with fellow lidar developer Ouster ( OUST ) in February.

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