Phoenix Biotech Acquisition CORP.: directors' dealings · United States · SEC (Form 4)

About Phoenix Biotech Acquisition CORP.

Phoenix Biotech Acquisition Corp. is a U.S.-listed company on the NYSE/NASDAQ ecosystem that was originally formed as a special purpose acquisition company (SPAC). It was incorporated in Delaware on June 8, 2021, and created to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. In its offering documents, the company stated that it intended to focus its search on healthcare and healthcare-related industries in the United States and Europe. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1870404/000119312521271453/d198272ds1.htm?utm_source=openai)) From a geographic standpoint, Phoenix Biotech Acquisition Corp. was initially disclosed with an Oakland, California address, while later transaction and post-combination filings reference South San Francisco, California, underscoring its proximity to one of the most important biotech clusters in the United States. For investors, the key point is that this was not a traditional operating company with diversified revenue streams at inception; rather, it was a listed capital markets vehicle designed to bring a healthcare or biotech business to the public market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1870404/000121390023053961/ea181281ex99-1_phoenix.htm?utm_source=openai)) The defining recent development was the business combination with CERo Therapeutics, announced in June 2023 and closed in February 2024. CERo is an immunotherapy company focused on next-generation engineered T-cell therapeutics that use phagocytic mechanisms. Following closing, Phoenix Biotech Acquisition Corp. effectively became the listing vehicle for the combined company, with the market identity shifting toward CERo and the CERO ticker. This transaction is the most important corporate milestone and explains the current investment case. ([businesswire.com](https://www.businesswire.com/news/home/20230603005013/en/CERo-Therapeutics-Inc.-and-Phoenix-Biotech-Acquisition-Corp.-Announce-Merger-Agreement-to-Create-Public-Company-Advancing-the-Development-of-Next-Generation-Engineered-T-Cell-Therapeutics?utm_source=openai)) In competitive terms, the story is less about historical operating scale and more about access to public equity markets, clinical development execution, and the quality of the underlying biotech platform. The immunotherapy space is highly competitive, capital intensive, and heavily regulated, so the company’s future performance depends primarily on scientific progress, clinical data generation, regulatory milestones, and financing capacity. As with many SPAC-origin transactions, investors should also pay attention to deal timing, structure changes, and post-closing integration or listing-related requirements. ([businesswire.com](https://www.businesswire.com/news/home/20230603005013/en/CERo-Therapeutics-Inc.-and-Phoenix-Biotech-Acquisition-Corp.-Announce-Merger-Agreement-to-Create-Public-Company-Advancing-the-Development-of-Next-Generation-Engineered-T-Cell-Therapeutics?utm_source=openai)) Overall, Phoenix Biotech Acquisition Corp. is best understood as a U.S. NYSE/NASDAQ-listed SPAC platform that transitioned into a public biotech exposure through CERo Therapeutics, with a California-based footprint and a value proposition now tied to immunotherapy development rather than legacy operations. ([businesswire.com](https://www.businesswire.com/news/home/20240214145586/en/Phoenix-Biotech-Acquisition-Corp.-and-CERo-Therapeutics-Inc.-Announce-Close-of-Business-Combination?utm_source=openai))