New York gene therapy startup Neurogene eyes $200M from Neoleukin Nasdaq swap

Ne­oleukin Ther­a­peu­tics has found its re­verse merg­er part­ner about four months af­ter putting up the for-sale sign, as the Seat­tle biotech gives way to a Big Ap­ple start­up mak­ing AAV gene ther­a­pies.

The IL-2 biotech, af­ter se­vere lay­offs last year and again this year, will hand the Nas­daq keys to clin­i­cal-stage Neu­ro­gene in an all-stock deal, the com­pa­nies said Tues­day morn­ing. It’s the lat­est in a string of re­verse merg­ers, in which a list­ed biotech serves as the path for a pri­vate drug de­vel­op­er to go pub­lic with­out hav­ing to en­dure the frigid IPO wa­ters of the past two years.

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