# Helix Acquisition Corp. III

Helix Acquisition Corp. III is an Asset Manager based in Boston, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Assets under management:** Undisclosed
- **Website:** helixacquisitioncorpiii.com

## Regulatory record

- **Reports private funds:** No

## About

Helix Acquisition Corp. III priced a $150 million initial public offering in February 2024, listing on Nasdaq under the ticker HELC. Bihua Chen, founder and chief executive officer of Cormorant Asset Management, leads the vehicle as CEO and director — continuing a pattern she established with Helix I (closed in 2021) and Helix II (closed in 2023). Chen's day job running Cormorant, a Boston-based hedge fund with a healthcare focus, supplies the sourcing pipeline that distinguishes Helix SPACs from generalist blank-check operators. Chen deploys Helix III capital into a single healthcare or biopharma target, with no stated sub-sector exclusions. The SPAC's registration statement authorizes searches across the US, Europe, and Asia, though Chen's prior Helix vehicles concentrated on North American assets. Her first two SPACs executed deals with MoonLake Immunotherapeutics, a Swiss-based inflammation biotech that later read out strong Phase II data, and enGene, a gene therapy platform working on non-viral delivery. Each transaction leaned on Cormorant's ability to underwrite clinical-stage risk — the edge Chen advertises to co-investors. Helix III's board supplements Chen with directors from venture capital and biotech operations, including representatives from Bain Capital Life Sciences and a former Moderna manufacturing executive. The SPAC structure means Helix III has no permanent AUM; the trust account holds IPO proceeds until a merger closes or the vehicle liquidates. Cormorant, her core firm, managed roughly $3 billion in total assets as of its most recent public filing. Helix III's core structural differentiator is its proprietary pipeline relationship with Cormorant Asset Management. Most SPAC sponsors are generalist financiers; Chen runs an active life-sciences investment platform that screens hundreds of private companies annually, giving her acquisition vehicles first refusal on assets Cormorant already knows. The timeline pressure standard to SPACs — typically 18 to 24 months to find and close a deal — creates incentives that overlap with Chen's broader portfolio strategy, but also concentrates outcome risk in a single bet. Helix III must complete its initial business combination by mid-2025 or return capital to shareholders.

## Sectors

- Healthcare Services
- Digital Health

## Questions

### What sectors does Helix III target, and are there explicit exclusions?

The SPAC's mandate targets healthcare broadly — biopharma, medical devices, diagnostics, and digital health — in the US, Europe, and Asia. No sub-sectors are explicitly excluded in the trust agreement, though Chen's prior deals suggest a preference for platform biotechs with near-term clinical catalysts.

### What is Helix III's deadline to complete a merger?

The SPAC has a standard two-year window from its February 2024 IPO, meaning it must complete a business combination by approximately February 2026. If no deal closes, the trust liquidates and public shareholders receive their pro-rata portion of IPO proceeds held in escrow.

### What differentiates Helix III from the many other SPACs launched in recent years?

Chen's deep life-sciences specialization separates Helix III from generalist SPAC sponsors. Cormorant's ongoing private-market deal activity creates an organic target list, and Chen's prior SPAC exits link her reputation to clinical outcomes rather than just closing mechanics. The model mirrors a handful of specialist sponsor platforms — like RA Capital's or Perceptive Advisors' — where the SPAC extends an existing investment capability.

## Related profiles

- [American Realty Investors](https://altss.com/profile/american-realty-investors-inc)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/helix-acquisition-corp-iii

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology