Bolt Biotherapeutics Completes Merger with Prana Therapies

Bolt Biotherapeutics completed its acquisition of Prana Therapies through a sign-and-close reverse merger, alongside a $120 million financing. On a fully diluted basis, Prana equity holders own 51.7% of the combined company, private placement investors 41.4%, and Bolt equity holders 6.9%. Bolt is refocusing its pipeline and expects to move two additional undisclosed programs toward IND-enabling development by the second half of 2027.