uniQure to sell commercial manufacturing facility to Genezen for $25M

uniQure has entered into an agreement for the sale of its global manufacturing facility in Lexington, Massachusetts to Genezen. Genezen agreed to acquire uniQure’s commercial-scale gene-therapy manufacturing facility for total consideration of $25 million, comprised of $12.5 million of newly issued Series C Preferred Stock and a $12.5 million convertible note. In addition, Matt Kapusta, CEO of uniQure, will join the Board of Genezen upon the closing of the transaction, which is expected early in the third quarter of 2024 subject to satisfaction of customary closing conditions. Under the proposed transaction, Genezen will be responsible for manufacturing global commercial supply of HEMGENIX for CSL and providing development and manufacturing services to support uniQure’s investigational gene therapies. uniQure and CSL will be entitled to preferred customer status. The majority of uniQure’s employees at the Lexington facility will be offered employment at Genezen to facilitate a seamless transition. As a result of this transaction, uniQure expects to reduce cash burn by approximately $40 million annually. Upon the closing of the transaction, uniQure anticipates repaying $50 million of outstanding debt, which is expected to yield additional savings in interest expense.