Forbion European Acquisition Corp. (FRBN) Closes enGene Deal

Forbion European Acquisition Corp. (NASDAQ:FRBN) has closed its combination with biotech firm enGene and the combined company is expected to begin trading on the Nasdaq today under the symbol “ENGN”.

Shareholders had already approved this deal at a special meeting held on October 24 and at that time, the SPAC announced that it expected to close the combination on October 31.

enGene is to receive approximately $138 million in gross proceeds from this transaction, including $25 million held in FEAC’s trust net of redemptions, and $113 million from private investors. The PIPE drew from investors including 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.

The combined company intends to use these proceeds to support its continued mission to expand genetic medicine into the mainstream of clinical practice.

Forbion European inked its deal with enGene earlier this year in May. Montreal-based company enGene is developing non-viral gene therapies to treat cancers and other conditions.

The enGene management team, headed by CEO, Jason Hanson, will lead the combined company.