Sujal Patel-led Nautilus Biotechnology goes public as it tackles ambitious plan to analyze proteins
Biotech investment firm Perceptive Advisors sponsored the SPAC, a shell company that will join with Nautilus for the merger. So when Mallick had a completely new idea to analyze the proteome in 2016, he turned to Patel for advice. So far this year 335 SPACs have raised $105 billion, according to SPAC Research, nearly eight times the amount raised in all of 2019. This is Patel’s second time taking a company public. Nautilus’ SPAC is one that is “willing to still fund developmental venture capital stage risks,” said Matt McIlwain, managing director of Madrona Venture Group, an early Nautilus backer.