Seattle-based biotech company Neoleukin Therapeutics announced that it will merge with Neurogene, a New York-based gene therapy organization. Finalization of the merger is expected to occur before the end of 2023.
The announcement comes after Neoleukin reduced its workforce and the development of an immune therapy candidate in March. The new company will operate primarily under Neurogene, with an estimated 84% of its stockholders maintaining ownership; the remaining 16% of the company will be owned by Neoleukin stockholders.
The newly merged company, which will take Neurogene’s name, will be run by the parent company’s CEO and founder, Rachel McMinn.