KalGene Inc.
- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 500-11-067189-262
- Industry
- Health care · Pharmaceuticals & biotech
KalGene Inc. is bankrupt under the Bankruptcy and Insolvency Act, the bankruptcy taking effect at 14:36 on April 29, 2026. The proceeding is active and carries court file number 500-11-067189-262. The record to date consists of a single filing, made on the commencement date: a court officer's report fixing the date and time of the bankruptcy. No further steps have been recorded in the proceeding.
Certificate of appointment was filed. Court file 500-11-067189-262.
Source: Certificate of appointment
Outcome brief
KalGene: the asset was a licence, and the NRC took it back
A Montreal biotech spent nineteen years developing an Alzheimer's drug candidate on technology licensed from the National Research Council. Development substantially stopped in late 2022. In January 2025 the NRC terminated the licence. The statement of affairs shows $22.6 million of liabilities, all unsecured, against roughly $38,000 of assets — and no distribution is expected.
Debtor
KalGene Inc.
Trustee in bankruptcy
KPMG
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Auctus FundPromissory notes — debtor: KalGene Inc. · as of 29 Apr 2026 | $1.53M | Notice of bankruptcy and first meeting of creditors |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
60 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: no distribution.EstimatedReport on the Trustee's Preliminary Administration · 19 May 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Report on the Trustee's Preliminary Administration · 19 May 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Report on the Trustee's Preliminary Administration
| PDF · Subscribers | |
Notice of bankruptcy and first meeting of creditors
| PDF · Subscribers | |
Certificate of appointment
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “KalGene Inc.” (Bankruptcy), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/kalgene-inc