Biotech investor Cormorant Capital raised $150 million to back another blank‑check merger as SPAC activity rebounds in life sciences. The firm, known for prior crossover SPAC deals with Moonlake Immunotherapeutics and BridgeBio Oncology Therapeutics, aims to continue deploying capital into biotech targets via the new vehicle. Cormorant’s move reflects renewed sponsor appetite for SPACs as an alternate route to public markets for biotech companies with near‑term clinical catalysts. The firm’s track record and sector focus may attract companies seeking faster access to public capital and strategic investor support. The deal underscores growing diversity in exit pathways for mid‑stage biotechs and signals that investor demand for de‑risked, clinical‑stage assets remains strong.