INmune Bio Secures $13 Million in Strategic Financing Move

INmune Bio Secures Significant Funding Through Direct Offering

INmune Bio Inc. (NASDAQ: INMB), a pioneering clinical-stage biotechnology company, has recently announced an impressive $13.0 million in gross proceeds from a registered direct offering. This funding will bolster their ongoing efforts to develop innovative treatments that tap into the innate immune system, targeting various diseases.

Details of the Offering

The company has entered into agreements with both new and existing institutional investors, in addition to certain insiders, which include directors, officers, and employees. Under this agreement, a total of 2,341,260 shares of common stock are being offered alongside warrants that allow for the purchase of an equal number of shares. The institutional investors will acquire these shares and warrants at an attractive price of $5.50, while insiders will pay $6.50 per share.

Understanding the Mechanics of Warrants

The accompanying warrants will allow investors to purchase shares starting six months post-issuance, with a strike price set at $6.40. These warrants will remain valid for five years following their initial exercise date, but may see accelerated timelines based on the fulfillment of specific conditions. For insiders, if the warrant expiration aligns with a blackout period, an extra 60 days will be granted post-blackout for warrant exercise.

Intended Use of Proceeds

The funds raised from this offering are earmarked for working capital and general corporate purposes, providing INmune Bio with a solid financial foundation to accelerate its growth. The anticipated closing date for the offering is on or around September 16, 2024, contingent upon the customary closing conditions being met.

Role of A.G.P./Alliance Global Partners

A.G.P./Alliance Global Partners is serving as the sole placement agent for this offering, playing a crucial role in facilitating this significant financial transaction.

About INmune Bio Inc.

INmune Bio is dedicated to developing transformative therapies aimed at utilizing the body’s own immune defenses. Currently, the company boasts two robust product platforms in clinical trials. Their first platform, the Dominant-Negative Tumor Necrosis Factor (DN-TNF), is focused on neutralizing soluble TNF, a crucial factor in immune dysfunction associated with several diseases. Among these therapeutics is XPRO, which is undergoing trials aimed at treating Mild Alzheimer’s disease.

Expanding Therapeutic Applications

In addition to Alzheimer's, INmune Bio is exploring treatments for conditions like treatment-resistant depression and cancer as resources permit. Their second platform centers on harnessing the Natural Killer (NK) cell system, utilizing INKmune™, a precision medicine that trains NK cells to effectively combat cancer. Currently, INKmune is in a Phase I/II trial in the US, focusing on patients with metastatic castrate-resistant prostate cancer.

The Path Ahead for INmune Bio

As clinical trials develop, INmune Bio is positioned at the forefront of immune-centric therapies that promise to redefine treatment methodologies. The funding obtained from this offering will no doubt enhance their ability to complete clinical trials and expedite their path to market.

Frequently Asked Questions

What is the main purpose of the $13 million raised by INmune Bio?

The funds will be used primarily for working capital and general corporate purposes to advance their therapeutic development programs.

What are the key products being developed by INmune Bio?

INmune Bio is developing important therapies including XPRO for Alzheimer's disease and INKmune for cancer treatment.

Who are the main investors involved in this offering?

The offering includes participation from new and existing institutional investors as well as insiders from the company.

What are the terms associated with the warrants issued in this offering?

The warrants allow for the purchase of shares at $6.40, commencing after a six-month period, and are valid for five years.

How is A.G.P./Alliance Global Partners involved?

A.G.P./Alliance Global Partners acts as the sole placement agent for the offering, facilitating the transaction's execution.

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