Ocugen, a gene therapy and biopharmaceutical company in Malvern, has finalized its reverse merger with Histogenics, a publicly traded company in Boston, and is now trading on the Nasdaq Capital Market under the “OCGN” ticker symbol, writes John George for the Philadelphia Business Journal.

The combined company is being run by the executive team at Ocugen, led by Chairman and CEO Shankar Musunuri, and will be based in Malvern.

In the lead-up to the merger, Ocugen completed a private placement financing of $25 million and Histogenics performed a reverse stock split of its common stock using a 1-for-60 ratio.

Ocugen stockholders received shares of the combined company’s common stock at an exchange rate of 0.4794. After the merger, Ocugen stockholders own around 90 percent of the new company, while Histogenics shareholders have around 10 percent.

According to Musunuri, the completion of the merger “marks the beginning of a new chapter for Ocugen as a publicly traded company.”

Read more about Ocugen in the Philadelphia Business Journal here.

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