Murphy Canyon Acquisition Corp. previously operated as a special purpose acquisition company, without substantial active operations. Its principal mission involved executing a merger, share exchange, asset acquisition, or similar business combination with an existing enterprise. Although it initially targeted the real estate industry, including construction, property management, financing arrangements, and associated technologies, the company ultimately completed a business combination with Conduit Pharmaceuticals Limited. This transaction finalized in September 2023. The resulting combined entity now operates as Conduit Pharmaceuticals Inc., focusing on life sciences and the development of clinical drug candidates, with its shares trading on Nasdaq under new symbols. The blank check firm was established in 2021 and maintained its corporate base in San Diego, California.