TriGemX Bio and TCGX Acquisition Corp. Announce Business Combination Agreement to Create Publicly Listed Company to Develop Elismetrep, a Potential First-in-Class Treatment for Migraine

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

NEW YORK & PALO ALTO, Calif., October 19, 2026--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.

"This is an important day and financing for TriGemX," said Jeff Goater, CEO of TriGemX Bio. "With the anticipated proceeds from this transaction, TriGemX will be positioned to fully fund the Phase 3 development of elismetrep and undertake key commercial readiness activities as we prepare for a potential U.S. launch. Elismetrep is our novel, potential first-in-class acute treatment for migraine. Migraine is one of the most common neurological diseases, and a meaningful percentage of affected patients do not achieve adequate relief from existing therapies. We believe elismetrep will be an important new treatment option for patients suffering with this disease."

Chen Yu, Founder and Managing Partner of TCGX and CEO of TCGX Acquisition Corp., added, "We are thrilled to partner with the team at TriGemX. We established TCGX, motivated by the opportunity to support high-potential life sciences companies developing groundbreaking therapies, and TriGemX exemplifies that vision. We look forward to supporting the Company as it executes on its next phase of growth."