TriGemX Bio To Go Public Through Merger With TCGX Acquisition, Plans Nasdaq Listing Under TGEM; Upon Closing, Combined Company Expected to Receive ~$246M Of Gross Proceeds

Transaction Includes Concurrent $160 million Private Investment in Public Equity (PIPE) Financing and Expected Gross Proceeds of Approximately $246 million

TriGemX Bio, a biotechnology company focused on developing elismetrep, a potential first-in-class treatment for migraine, and TCGX Acquisition Corp. (NASDAQ:TCGX), a special purpose acquisition company (SPAC) sponsored by TCGX, today announced the execution of a definitive business combination agreement that will result in TriGemX Bio becoming a publicly traded company. The combined company will be named "TriGemX Bio, Inc." (the "Combined Company") and is expected to trade on Nasdaq under the new ticker symbol "TGEM".

Upon closing, the Combined Company expects to receive approximately $246 million of total gross proceeds (prior to the payment of transaction costs and assuming no redemptions by TCGX Acquisition Corp.'s public shareholders). Proceeds will be funded through the approximately $86 million held in TCGX Acquisition Corp.'s trust account (assuming no redemptions by TCGX Acquisition Corp.'s public shareholders) and a concurrent $160 million PIPE financing of common stock at $10.00 per share from a group of premier healthcare investors, including TCGX, Viking Global Investors, ADAR1 Capital Management, BVF Partners, Samsara BioCapital, and Vianti Capital as well as other leading healthcare investors.