Investment Details
NATCO Pharma Limited is investing US$ 14 million in eGenesis, Inc. through its wholly owned subsidiaries:
- NATCO Pharma (Canada) Inc.: US$ 9.5 million
- NATCO Pharma South Africa Proprietary Limited: US$ 4.5 million
Investment Instrument: Convertible promissory notes with 8% interest rate compounded annually
Previous Investment: In 2024, NATCO had invested US$ 8 million in eGenesis through preferred stock
Total Investment: US$ 22 million
Completion Timeline: September 30, 2026
Consideration: Cash consideration
Target Company Background
Industry: Biotechnology
Incorporation Date: October 1, 2015
Business Focus: Using multiplex gene editing and genome engineering platform to develop safe and effective transplantable organs
Key Business Activities:
- Addressing cross-species molecular incompatibilities and viral risk via genetic engineering
- Developing porcine solid organ donors for human transplantation
- Current clinical trials for porcine kidney transplantation and porcine liver perfusion
- Clinical stage company (pre-revenue)
Recent Milestone: In March 2024, eGenesis announced the world's first porcine kidney transplant in a living patient under FDA's Expanded Access pathway, followed by two additional patients with exceptionally positive outcomes
Geographic Presence: United States of America (headquartered in Cambridge, Massachusetts)
Strategic Rationale
The investment aims to support "new-age therapeutic programmes addressing critical unmet medical needs" in organ transplantation. eGenesis is pioneering genome engineering-based approaches to end the global organ shortage and transform the treatment of organ failure through their EGEN™ Platform.
Regulatory and Transaction Details
Related Party Transaction: No
Governmental/Regulatory Approvals Required: None specified
Percentage of Shareholding/Control: No additional shares being acquired at time of completion (convertible notes)