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Ocugen, Histogenics to merge
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Ocugen and Histogenics have entered into a definitive merger agreement that will result in a combined publicly traded, clinical-stage biopharmaceutical company operating under the Ocugen name, according to a press release.
Under the merger agreement, Ocugen stockholders will become the majority owners of Histogenics’ outstanding common stock.
“This transaction with Ocugen reflects the continued commitment of our management team and board of directors to deliver value to stockholders and make a difference in patients’ lives,” Adam Gridley, president of Histogenics, said in the release. “Following a thorough review of strategic alternatives for Histogenics and the NeoCart program, we have determined that a merger with Ocugen will enable Histogenics investors to participate in Ocugen’s broader pipeline of ocular disease and gene therapy opportunities, including several late-stage clinical candidates, and a robust preclinical platform.”
The boards of directors at both companies have approved the merger agreement, which is expected to close in the late second quarter or the third quarter.