Delhi-based biotech firm Vyome Therapeutics is planning to go public in the US through a multipart transaction, including a reverse merger, with California-based listed weight loss solutions firm ReShape Lifesciences.

Backed by Manipal Group chief Ranjan Pai and deep tech venture fund Navam Capital, Vyome is a clinical-stage healthcare firm targeting immuno-inflammatory and rare diseases in the US and global markets.

Under the merger agreement, a newly formed wholly owned subsidiary of ReShape will merge into Vyome, with the latter continuing as the surviving corporation and wholly owned subsidiary of ReShape.

Post-merger, the entity renamed Vyome Holdings will have its common stock traded on the NASDAQ under the new ticker symbol HIND.

Ranjan Pai, chairman of Manipal Education and Medical Group (MEMG), and investors affiliated with Remus Capital and Iron Pillar, will invest at least $7.3 million in the merged entity through private placement, a company statement said.

According to the release, the company will have adequate liquidity to self-fund into the second half of 2025 based on its anticipated cash flow projections.

Vyome said it plans to deploy the capital raised through private placement to unlock value in its pipeline of immuno-inflammatory assets and intends to use its public market position to capitalize on the growing relationship between the US and India.

“We have a very promising pipeline with potential near-term catalysts treating unmet rare and immune-inflammatory diseases,” said Dr Shiladitya Sengupta, co-founder of Vyome, said.

“We are leveraging world-class research at much lower R&D costs to solve tangible unsolved real-world problems with large US market opportunities; this combination is our competitive advantage. We are grateful to investors who support our continued efforts to make a meaningful impact on patient lives,” the associate professor of medicine at Harvard Medical School and a a researcher at MIT said.

Former US ambassador to India Frank Wisner will join the company’s board of directors as part of the transaction.

Wisner, with a diplomatic career spanning four decades,  brings extensive experience in business, international law, and global political relations to the company, the statement added.

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