INmune Bio Secures $19 Million Through Direct Offering
INmune Bio Completes Successful Direct Offering
In a significant advancement for the company, INmune Bio Inc. (NASDAQ: INMB), a leader in clinical-stage biotreatment for inflammation and immunology, has successfully closed its registered direct offering. This offering, announced recently, entails the sale of 3,000,000 shares of common stock at a purchase price of $6.30 per share. This strategic move has raised approximately $19 million in gross proceeds.
Utilization of Proceeds
The proceeds from this offering will be instrumental as INmune Bio aims to utilize the funds primarily for working capital and general corporate purposes. Such financial support allows the company to pursue ongoing and future projects while maintaining financial stability in a competitive biotech landscape.
Role of Placement Agent
A.G.P./Alliance Global Partners played a pivotal role as the sole placement agent for this offering. Their expertise and established presence in the biotechnology finance sector attracted substantial investor interest, underscoring the confidence market players have in INmune Bio's innovative approach.
About INmune Bio and its Innovations
INmune Bio Inc. is at the forefront of biotechnology, publicly traded and dedicated to developing cutting-edge treatments that harness the innate immune system's power to combat diseases. With three advanced product platforms, the company is focused on addressing significant health challenges through precise and effective treatments.
Product Platforms and Research
INmune Bio's Dominant-Negative Tumor Necrosis Factor (DN-TNF) platform is a hallmark of their innovation, employing unique technology to selectively neutralize soluble TNF. This is crucial in addressing innate immune dysfunction, often linked to various chronic diseases. The company is currently conducting clinical trials aimed at treating conditions such as Mild Alzheimer's disease, Mild Cognitive Impairment, and treatment-resistant depression through their candidate, XPro™.
Furthermore, the Natural Killer Cell Priming Platform, featuring the notable INKmune®, is designed to enable patients’ NK cells to effectively target and eliminate residual cancer cells. Its ongoing trials in metastatic castration-resistant prostate cancer represent a promising progression in oncology.
Lastly, the CORDStrom™ program showcases INmune Bio's dedication to research innovation, utilizing proprietary human umbilical cord-derived mesenchymal stem cells. This platform recently concluded a randomized trial for recessive dystrophic epidermolysis bullosa, reflecting the company's commitment to addressing rare and severe diseases.
Commitment to Transparency
INmune Bio's approach to investor communications emphasizes clarity and openness. Although clinical trials are often filled with uncertainty, the company remains steadfast in its pursuit of groundbreaking treatments and aims to keep stakeholders informed of significant developments. With ongoing trials, the company is dedicated to charting the path toward potential FDA approval, a journey consisting of multiple steps that includes extensive research and testing.
Contact Information
For inquiries concerning corporate matters or investor relations, interested parties can reach the company’s Chief Financial Officer, David Moss, at (561) 710-0512 or via email. Daniel Carlson, the Head of Investor Relations, is also available at (415) 509-4590, ensuring robust lines of communication with stakeholders.
Frequently Asked Questions
What is the significance of the recent offering by INmune Bio?
The recent $19 million direct offering enables INmune Bio to enhance its financial resources, facilitating ongoing research and development activities.
How will the funds from the direct offering be utilized?
The proceeds will mainly support working capital and general corporate purposes, ensuring the company's operational flexibility.
What are the key product platforms of INmune Bio?
INmune Bio has three primary platforms: DN-TNF, INKmune®, and CORDStrom™, each targeting various diseases through innovative approaches.
What clinical trials are currently underway?
The company is conducting clinical trials for conditions including Mild Alzheimer's disease, cancer treatments, and rare diseases utilizing its advanced therapies.
Who can I contact for more information about INmune Bio?
Inquiries can be directed to David Moss, CFO, or Daniel Carlson, Head of Investor Relations, through their respective phone numbers or emails provided by the company.
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