Clinical-stage biotechnology company enGene and Forbion European Acquisition today announced a definitive business combination agreement. If approved, the combined company will be named enGene Holdings, which would list on the Nasdaq.
Potential gross proceeds to enGene include Forbion Growth’s existing investment in FEAC Class A shares of $20 million and a PIPE investment, other private investment and non-redemption commitments of approximately $115 million, anchored by Forbion Growth, with the participation of new institutional investors including, among others, BVF Partners, Omega Funds, Cowen Healthcare Investments, Investissement Québec, Vivo Capital, Northleaf Capital Partners and CTI Life Sciences Fund III, along with existing enGene investors Forbion Ventures III, Fonds de solidarité FTQ and Lumira Ventures, as well as an additional approximately $111 million held in FEAC’s trust as of March 31.
The consideration assumes no redemptions and is exclusive of Forbion Growth’s existing investment in FEAC Class A shares of $20 million and approximately $1.7 million subject to the non-redemption commitment mentioned.
The target is developing non-viral gene therapies for local administration into mucosal tissues. enGene is advancing its immune-oncology platform, which includes its clinical-stage lead candidate detalimogene voraplasmid (EG-70), a non-viral gene therapy administered by intravesical instillation. Read more.
