TriGemX Bio to go public in $600M TCGX merger
TriGemX Bio, a biotechnology company developing treatments for migraine, has agreed to go public through a merger with TCGX Acquisition Corp. (TCGX), a deal expected to generate $246M in gross proceeds, including a $160M private placement and $86M in trust cash
The combined company, TriGemX Bio Inc. is expected to list on Nasdaq under the ticker TGEM. The transaction implies a post-closing equity value of ~$600M.
Proceeds will fund Phase 3 trials of elismetrep for acute migraine treatment, an NDA submission, a separate migraine prevention trial and preparations for a potential U.S. launch.
The deal is expected to close in Q1 2027, subject to shareholder approvals. TriGemX shareholders will roll over all their equity and receive no cash proceeds.
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