enGene to go Public via Forbion European Acquisition Corp. SPAC Merger for ~$135M
Shots:
- The business combination will deliver gross proceeds to enGene of ~$135M incl. Forbion Growth’s existing investment in FEAC Class A shares of $20M plus investment commitments of $115M, anchored by Forbion Growth with the participation of new institutional investors & existing enGene investors. The transaction is expected to be close in H2’23
- Net proceeds will be used to finance enGene’s operations through multiple potential value inflection milestones towards a BLA submission in 2025 for detalimogene voraplasmid (EG-70) to treat BCG-unresponsive NMBIC with CIS
- The transaction will support the development of earlier pipeline programs in GYN/GU malignancies & respiratory diseases. The combined company will be named “enGene Holdings Inc” & its shares are expected to be listed on Nasdaq
Ref: Globenewswire | Image: enGene
Related News:- enGene Reports Preliminary Results of EG-70 in P-I/II (LEGEND) Trial for the Treatment of Non-Muscle Invasive Bladder Cancer
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
