The investment will be made through Natco Pharma’s wholly owned subsidiaries Natco Pharma (Canada) Inc. and Natco Pharma USA LLC through convertible promissory notes carrying an interest rate of 8% compounded annually.
Natco Pharma (Canada) will invest $13.7 million, while Natco Pharma USA will invest another $3 million. The investment is expected to be completed by October 31, 2026.
The latest investment is an update to Natco Pharma’s disclosure on August 25. The company also said there has been a change in the subsidiaries participating in the investment.
Following the proposed investment, Natco Pharma’s total investment in eGenesis will rise to $24.7 million, including the $8 million it invested in the US biotech in 2024.
What does eGenesis do?
eGenesis is developing technology that could potentially help address the shortage of human organs available for transplantation.
The company uses gene editing to modify pig organs so they can potentially be transplanted into humans while reducing the risk of rejection and viral transmission.
eGenesis is currently developing programmes involving kidney transplantation, acute liver failure and heart transplantation.The company made headlines in March 2024 after conducting the world’s first pig-kidney transplant in a living patient. The transplant was authorised by the US Food and Drug Administration under its Expanded Access pathway. Two additional patients subsequently received pig-kidney transplants, Natco Pharma said.
eGenesis is currently a clinical-stage, pre-revenue company and is conducting clinical trials involving pig-kidney transplantation in humans and pig-liver perfusion.
For Natco Pharma, the investment is aimed at backing new-age therapeutic programmes addressing critical unmet medical needs, according to the company’s disclosure.
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