- INmune Bio is a diversified, clinical stage immunology company developing novel therapies targeting distinct parts of a patient’s innate immune system to fight disease
- Drug candidates INKmune and INB03 may be used to treat cancer; XPro1595 targets neuroinflammation as a cause of Alzheimer’s disease
- The company was awarded a $1 million “Part the Cloud” grant from the Alzheimer’s Association to advance XPro1595 research
- INmune recently entered a common stock purchase agreement for up to $20 million with Lincoln Park Capital
INmune Bio Inc. (NASDAQ: INMB), an immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, is pursuing several drug candidates that utilize a precision therapy approach to treat unsolved problems in medicine. Among the company’s active drug candidates are INKmune and INB03, which may be used to treat cancer, and XPro1595, which targets neuroinflammation as a cause of Alzheimer’s disease (http://nnw.fm/dIP4x).
INmune Bio recently posted its Q1 2019 financial results in a shareholder update, which highlighted the achievement of becoming the first biotechnology company to close an initial public offering (IPO) in 2019 and commence trading on the Nasdaq Capital Market (http://nnw.fm/Af4Jb). Importantly, INmune Bio was recognized by the Alzheimer’s Association with a “Part the Cloud” award that included a $1 million grant to further research into XPro1595 and the potential hope that it may bring to millions of patients with Alzheimer’s disease.
“2019 has marked a transformative period for INmune Bio, as the first biotech of the year to close its IPO and list on the Nasdaq,” RJ Tesi, M.D, INmune Bio’s chief executive officer, stated in a news release. “We are focused on advancing our clinical programs for the foreseeable future.”
XPro1595 targets the microglial immune cells of the brain that are activated in many Alzheimer’s disease patients. These microglial cells are a cause of neuroinflammation that can kill nerve cells and promote synaptic dysfunction – the cause of dementia in Alzheimer’s. A phase I clinical trial in patients with Alzheimer’s disease, supported by the Alzheimer’s Association grant, is expected to be initiated in the summer of 2019.
Upcoming catalysts for INmune Bio include advancements in several clinical trials featuring INB03 and INKmune – both of which are focused on “taking the brakes off” the body’s innate immune system to become a powerful weapon in the fight against cancer. INB03 is a checkpoint inhibitor that targets cells resistant to immunotherapy to instead become therapeutically effective; INKmune primes a patient’s own natural killer cells to move from a resting state to an active state to attack and eliminate residual disease (lingering cancer cells) after cancer therapy.
A recently published Zacks Small-Cap Research report values INmune Bio at $19 a share. David Bautz, PhD, who wrote the report, said that Zacks (http://nnw.fm/fw0Od) is “excited by the early clinical data INmune has compiled thus far and believe that the innate immune system is a currently untapped resource for extending the lives of cancer patients.”
INmune Bio also announced a common stock purchase agreement with Lincoln Park Capital Fund LLC, a Chicago-based institutional investor, for up to $20 million (subject to the terms of the agreements with Lincoln Park), which includes an initial investment of $300,000 (http://nnw.fm/tRpQ7). The investment is in addition to an earlier investment made by Lincoln Park during INmune Bio’s first round of funding in 2017, when the company was private.
“This financing agreement provides flexibility to opportunistically access capital at our option under favorable terms to advance our innate immune therapies in cancer and Alzheimer’s disease,” added David Moss, CFO of INmune Bio, noting that the funds will specifically help advance the company’s drug development pipeline into phase II clinical trials.
In addition, there was an insider-led round of investment totaling approximately $4.6 million, including investments by the company’s CEO and CFO.
For more information, visit the company’s website at www.INmuneBio.com
NOTE TO INVESTORS: The latest news and updates relating to INMB are available in the company’s newsroom at http://nnw.fm/INMB
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