We advised Forbion European Acquisition on its de-SPAC transaction

Davis Polk advised Forbion European Acquisition Corp. (FEAC) on its business combination agreement with enGene, Inc. The business combination delivered gross proceeds to enGene exceeding $138 million from the cash held in trust after shareholder redemptions, the upsized PIPE and other private investment financing. The transaction closed on October 31, 2023. The combined company, enGene Holdings Inc., commenced trading on the Nasdaq Global Market under the ticker symbol “ENGN” on November 1, 2023.

FEAC was formed as a special purpose acquisition company (SPAC) for the purpose of effecting a business combination with one or more businesses or entities. FEAC’s sponsor, Forbion Growth Sponsor FEAC I B.V., is part of the Forbion group, a life sciences specialist venture fund manager with headquarters in Naarden, the Netherlands.

enGene is a Canada-headquartered clinical-stage biotechnology company mainstreaming genetic medicines through the delivery of therapeutics to mucosal tissues and other organs, with the goal of creating new ways to address diseases with high clinical needs. enGene’s lead program is EG-70 for patients with non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (Cis) who are unresponsive or naïve to treatment with Bacillus Calmette-Guérin (BCG). EG-70 is being evaluated in an ongoing Phase 2 pivotal study.

The Davis Polk corporate team included partner Leo Borchardt, counsel Maxim Van de moortel and associates Christopher Diel, Francesco Mancuso and Majd Atalla. The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Partner David R. Bauer provided intellectual property advice. Partner Adam Kaminsky provided executive compensation advice. Counsel Mary K. Marks provided antitrust and competition advice. Members of the Davis Polk team are based in the London, New York and Washington DC offices.