Home Supporting structure ProKidney and Social Capital Suvretta Holdings Corp. III

ProKidney and Social Capital Suvretta Holdings Corp. III


WINSTON-SALEM, NC, April 18, 2022 (GLOBE NEWSWIRE) — ProKidney LP (ProKidney) is a leading Phase 3 clinical-stage cellular therapeutic company with Regenerative Medicine Advanced Therapy (RMAT) designation which aims to delay chronic renal failure (CKD), prevent end-stage renal failure (ESRD) and prevent the need for dialysis. Social Capital Suvretta Holdings Corp. III (SCS) (Nasdaq: DNAC), is a special purpose acquisition company. ProKidney and SCS announced today that they will be hosting an Analyst and Investor Day in New York on Thursday, April 28, 2022, beginning at 8:00 a.m. ET.

The analyst day will feature presentations from the ProKidney and SCS leadership teams, including Pablo Legorreta, President of ProKidney, Tim Bertram, CEO and Founder of ProKidney, Chamath Palihapitiya, Founder and CEO of Social Capital and Chairman and CEO of SCS , and Kishen Mehta, Averill Strategy Portfolio Manager at Suvretta Capital Management and Director and Chairman of SCS.

A live webcast of the event will be available on the ProKidney and SCS websites at www.prokidney.com and www.socialcapitalsuvrettaholdings.com/dnac.

For more information or to register for the event, please reply to [email protected]

About ProKidney
ProKidney, a pioneer in the treatment of chronic kidney disease (CKD) through cell therapy innovations, was founded in 2015 after a decade of research. ProKidney’s lead product candidate, REACT® (Renal Autologous Cell Therapy), is a first-of-its-kind patented autologous cell therapy that has the potential to not only slow and stabilize the progression of CKD, but also, in some cases, to significantly improve function. renal. REACT® received Regenerative Medicine Advanced Therapy (RMAT) designation, along with FDA and EMA guidelines, supporting the Phase 3 clinical program which was launched on schedule in January 2022. On January 18, 2022, ProKidney announced that it would become a publicly traded company through a business combination with Social Capital Suvretta Holdings Corp. III (Nasdaq: DNAC). For more information, visit www.prokidney.com.

About Social Capital Suvretta Holdings Corp. III
Social Capital Suvretta Holdings Corp. III is led by Chamath Palihapitiya and Kishen Mehta and is a blank check company formed for the purpose of effecting a merger, amalgamation, stock exchange, asset acquisition, stock purchase, reorganization or a similar business combination with one or more companies. The Company focuses on companies operating in the biotechnology industry and in the organ space subsector. Learn more about Social Capital Suvretta Holdings Corp. III, visit https://www.socialcapitalsuvrettaholdings.com/dnac.

Additional information and where to find it
In connection with the proposed transaction between Social Capital Suvretta Holdings Corp. III (“SCS”) and ProKidney, SCS has filed a preliminary proxy statement with the United States Securities and Exchange Commission (the “SEC”) and intends to file a definitive proxy statement with the SEC. SHAREHOLDERS OF SCS ARE ADVISED TO READ THE PRELIMINARY PROXY STATEMENT, AS AMENDED FROM TIME TO TIME, THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY ARE AVAILABLE BECAUSE THEY WILL BE AVAILABLE. CONTAIN IMPORTANT INFORMATION. HOWEVER, THESE DOCUMENTS DO NOT CONTAIN ALL THE INFORMATION THAT MUST BE CONSIDERED REGARDING THE PROPOSED TRANSACTION. FURTHER, THEY ARE NOT INTENDED TO CONSTITUTE THE BASIS OF ANY INVESTMENT DECISION OR ANY OTHER DECISION REGARDING THE PROPOSED TRANSACTION. When available, the definitive proxy statement will be mailed to SCS shareholders on a record date to be set to vote on the proposed transaction. Shareholders may also obtain copies of the preliminary proxy statement, the definitive proxy statement and other documents filed with the SEC which will be incorporated by reference therein, free of charge, as soon as they become available. , on the SEC’s website at http://www. sec.gov.

Documents filed by SCS with the SEC may also be obtained free of charge at SCS’s website at https://socialcapitalsuvrettaholdings.com/dnac or upon written request at 2850 W. Horizon Ridge Parkway, Suite 200, Henderson, NV 89052.

Participants in the solicitation
SCS and ProKidney and their respective directors and officers may be considered participants in the solicitation of proxies from SCS shareholders in connection with the proposed transaction. A list of the names of such directors and officers and information regarding their interests in the proposed transaction between ProKidney and SCS will be contained in the definitive proxy statement when it becomes available. You can obtain free copies of these documents as described in the preceding paragraph.

No offer or solicitation
This communication does not constitute a solicitation of proxy, consent or authorization with respect to any security or with respect to the proposed transaction. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended or an exemption therefrom.

Forward-looking statements
This communication may contain certain forward-looking statements within the meaning of federal securities laws, including with respect to the proposed transaction between ProKidney and SCS and the timing of ProKidney’s clinical trial enrollment, the availability of clinical data and the obtaining regulatory approvals. These forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity “, “plan,” “may,” “should,” “will,” “would,” “will,” “will,” “will likely,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this communication, including, but not limited to: (i) the risk that the proposed transaction will not be completed in a timely manner or not at all, which could adversely affect the price of SCS’s securities, (ii) the risk that the proposed transaction will not be completed by SCS’s business combination deadline and the potential inability to obtain a extension of the business combination deadline if requested by SCS, (iii) non-compliance with the conditions for the completion of the proposed transaction, including the adoption of the definitive agreement relating to the business combination between SCS and ProKidney (the “Business Combination Agreement”) by the shareholders of SCS and the satisfaction of the minimum cash condition, (iv) the absence of a third-party assessment to determine whether or not to continue e the proposed transaction, (v) the inability to complete the private placement e in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that may give rise to the termination of the Business Combination Agreement, (vii ) the effect of the announcement or expectation of the transaction on ProKidney Relations’ business, results of operations and business generally, (viii) the risks that the proposed transaction will disrupt current plans and operations of ProKidney and potential retention difficulties for ProKidney employees following the transaction, (ix) the outcome of any legal proceedings that may be brought against ProKidney or against SCS in connection with the business combination agreement or the proposed transaction, (x) the ability to maintain the listing of SCS’s securities on a national stock exchange, (xi) the price of SCS’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which SCS plans to operate or ProKidney operates, various changes in the operating performance of competitors, changes in laws and regulations affecting SCS’s or ProKidney’s business, and changes in the structure combined capital, (xii) the ability to implement business plans, forecasts and other expectations following the completion of the proposed transaction, and identify and realize additional opportunities, (xiii) downside risk and a changing regulatory landscape in the highly competitive biotechnology industry, and (xiv) the uncertainties inherent in cell therapy research and development, including the actual time required to initiate and complete clinical studies and the timing and content decisions made by regulatory authorities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of SCS’s Preliminary Proxy Circular at Exhibit 14A (File No. 001-40560), as amended. from time to time filed with the SEC, SCS’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 28, 2022, SCS’s definitive proxy statement, when available, including those listed under “Risk Factors” and other documents filed by SCS from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and ProKidney and SCS undertake no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Neither ProKidney nor SCS guarantees that ProKidney or SCS, or the combined company, will achieve their expectations.

Lee Roth
Burns McClellan
[email protected]
+1 (212) 300-8331