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Zaoui Brothers Take U.K. Drugmaker Startup Public via SPAC

  • BenevolentAI uses artificial intelligence to develop drugs
  • U.K.-based startup to be valued at $1.7 billion after listing

BenevolentAI, a U.K. startup that uses artificial intelligence to develop drugs, is going public at a 1.5 billion euros ($1.7 billion) valuation via a SPAC from investment banker brothers Michael and Yoel Zaoui. 

BenevolentAI will combine with Odyssey Acquisition SA, a 300 million-euro blank check company that the Zaoui brothers listed on Euronext Amsterdam in July, according to a statement on Monday.