After announcing in March that it was seeking “strategic alternatives” for its future, Seattle publicly-traded biotechnology company Neoleukin Therapeutics is now planning to merge with New York City-based Neurogene, a gene therapy startup.
- In March, Neoleukin announced that it was discontinuing development of its computationally-designed immune therapy candidate and that CEO Jonathan Drachman was stepping down. The University of Washington spinout also slashed its workforce.
- Neurogene CEO and founder Rachel McMinn will lead the combined company, which will be called Neurogene and trade on the Nasdaq under the ticker symbol NGNE.
- Pre-merger Neoleukin stockholders are expected to own about 16% of the combined company, and Neurogene stockholders 84%. The deal, announced Tuesday, is expected to close in the fourth quarter of 2023.
