TrigemX Bio and TCGX Acquisition agree to business combination to develop migraine treatment
TCGX•TrigemX Bio and TCGX Acquisition Corp. agreed to combine to develop elismetrep, a potential first-in-class migraine treatment. The deal includes a $160 million PIPE at $10 per share and is expected to raise about $246 million in gross proceeds; the combined company plans to trade on Nasdaq as TGEM.
1. Deal terms
TrigemX Bio and TCGX Acquisition Corp. announced a business combination agreement to create a publicly listed company to develop elismetrep, a potential first-in-class treatment for migraine. The transaction includes a $160 million PIPE financing at $10 per share from Viking Global, Adar1 Capital, BVF Partners, Samsara BioCapital, Vianti Capital and others, with the combined company expected to raise about $246 million in gross proceeds. The combined company will trade on Nasdaq under the ticker TGEM.
