Helix Acquisition III, the third blank check company formed by Cormorant Asset Management targeting healthcare, filed on Monday with the SEC to raise up to $125 million in an initial public offering.
The Boston, MA-based company plans to raise $125 million by offering 12.5 million shares at $10. Unlike most SPACs, the company is not offering units with warrants or rights attached.
Helix Acquisition II is led by CEO and Chair Bihua Chen, founder and Managing Member of healthcare investment firm Cormorant Asset Management. He is joined by CFO and COO Caleb Tripp, the CFO of Cormorant. The SPAC plans to target the healthcare or healthcare-related industries, particularly focusing on the biotech, medtech, and life science sectors.
Management's previous SPACs include Helix Acquisition II, which completed its merger with oncology biotech BridgeBio Oncology Therapeutics (BBOT; +37% from $10 offer price) in August 2025, and Helix Acquisition, which completed its merger with biotech MoonLake Immunotherapeutics (Nasdaq: MLTX; +49%) in April 2022.
The Boston, MA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol HLXC. Leerink Partners and Oppenheimer & Co. are the joint bookrunners on the deal.
