Brief: Q32 Bio And Homology Medicines Announce Merger Agreement

Q32 Bio

16/11/2023 12:08

Nov 16 (Reuters) - Homology Medicines Inc  FIXX.O :
    * Q32 BIO AND HOMOLOGY MEDICINES ANNOUNCE MERGER AGREEMENT
    * HOMOLOGY MEDICINES INC: COMBINED COMPANY'S CASH BALANCE
EXPECTED
TO BE APPROXIMATELY $115 MILLION AT CLOSE, PROVIDING CASH RUNWAY
TO MID-2026
    * HOMOLOGY MEDICINES INC - POST DEAL Q32 BIO WILL BECOME A
WHOLLY
OWNED SUBSIDIARY OF HOMOLOGY MEDICINES
    * HOMOLOGY MEDICINES INC: ENTERED INTO A DEFINITIVE MERGER
AGREEMENT TO COMBINE COMPANIES IN AN ALL-STOCK TRANSACTION
    * HOMOLOGY MEDICINES- COMBINED CO WILL OPERATE AS Q32 BIO, 
AND IS
EXPECTED TO TRADE UNDER NASDAQ TICKER SYMBOL "QTTB"
    * HOMOLOGY MEDICINES INC- HAS DISCONTINUED DEVELOPMENT OF
ITS
RESEARCH AND DEVELOPMENT PROGRAMS, INCLUDING HMI-103 FOR
TREATMENT OF PKU
    * HOMOLOGY MEDICINES INC: PRE-MERGER CO'S STOCKHOLDERS ARE
EXPECTED TO OWN ABOUT 25% OF COMBINED CO
    * HOMOLOGY MEDICINES INC-  HAS BEEN EXPLORING STRATEGIC
ALTERNATIVES FOR ITS RESEARCH AND DEVELOPMENT PROGRAMS AND
PLATFORM TECHNOLOGY
    * HOMOLOGY MEDICINES INC: PRE-MERGER Q32 BIO STOCKHOLDERS
ARE
EXPECTED TO OWN ABOUT 75% OF COMBINED COMPANY
    * HOMOLOGY MEDICINES- PROCEEDS FROM DEAL TO BE USED TO
ADVANCE
CLINICAL DEVELOPMENT OF Q32 BIO'S 2 WHOLLY OWNED ASSETS,
BEMPIKIBART (ADX-914) & ADX-097

Source text for Eikon:  ID:nPnPBk91a 
Further company coverage:  FIXX.O 

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