enGene Announces Expanded $50 Million Debt Facility with Hercules Capital
Summary
BOSTON and MONTREAL, Dec. 22, 2023 /CNW/ - enGene Holdings Inc. ("enGene," Nasdaq: ENGN), a clinical-stage genetic medicines company whose lead EG-70 program is in a pivotal study for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC), announced today that it has entered into an amended USD $50 million loan agreement (the "Loan Agreement") with Hercules Capital, Inc. (NYSE: HTGC) ("Hercules"). "We are thrilled to expand our relationship with Hercules Capital and obtain additional resources to support our development efforts," said Jason Hanson, Chief Executive Officer of enGene. enGenes lead program is EG-70 for patients with non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (Cis) who are unresponsive or na\xefve to treatment with Bacillus Calmette-Gu\xe9rin (BCG) - a disease with a high clinical burden. EG-70 was developed using enGenes proprietary Dually Derivatized Oligochitosan (DDX) platform, which enables penetration of mucosal tissues and delivery of a wide range of sizes and types of cargo, including DNA and various forms of RNA. Forward-looking statements may include, for example, statements about: up to a further $27.5 million in loan proceeds being available subject to satisfaction of certain terms and conditions, enGenes goal of mainstreaming gene therapy, and the near-term potential to have a meaningful impact in the lives of patients living with BCG-unresponsive NMIBC .Many factors, risks, uncertainties and assumptions could cause the Companys actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the Companys ability to recruit and retain qualified scientific and management personnel, establish clinical trial sites and patient registration for clinical trials and acquire technologies complimentary to, or necessary for, its programs; the Companys ability to address diseases with high clinical needs; the Companys ability to retain commercial rights to EG-70 in the United States and commercialize EG-70 independently, while selectively partnering outside of the United States; the Companys plans and ability to secure regulatory approval, to execute product development, manufacturing process development, preclinical and clinical development efforts successfully and on anticipated timelines; enGenes ability to design mainstream gene therapy and bring genetic medicines to community clinics across the globe; and other risks and uncertainties detailed in filings with Canadian securities regulators on SEDAR+ and with the U.S. Securities and Exchange Commission ("SEC") on EDGAR, including those described in the "Risk Factors" section of the Companys Current Report on Form 8-K, filed with the SEC on October 31, 2023 (copies of which may be obtained at sedarplus.ca or www.sec.gov).You should not place undue reliance on any forward-looking statements, which speak only as of the date on which they are made.