Thursday, February 20, 2020

Tocagen, Forte Biosciences In Merger

San Diego-based Tocagen, which develops cancer-selective gene therapy aimted at treatking skin cancer, and Torrance-based Forte Biosciences, a biopharmaceuticals firm developing a live biotherapeutic for the treatment of inflammatory skin diseases, said on Wednesday that the two are in an agreement where Tocagen will merge with Forte in an all-stock transaction. As part of the funding, the two said that Alger, BVF Partners LP and OrbiMed have entered into a securities purchase agreement to invest $14 million in the combined company. The merged company will focus on Forte's late-stage clinical program for treating atopic dermatitis. The newly merged company will operate under the name Forte Biosciences, and trade on the Nasdaq Capital Market as FBRX.