INmune Bio (NASDAQ: INMB) this morning announced a common stock purchase agreement with Chicago-based institutional investor Lincoln Park Capital Fund, LLC (“LPC”) for up to $20 million, including an initial investment of $300,000. The investment amount is subject to the terms of the agreements with Lincoln Park and is in addition to LPC’s investment during the first round of funding in 2017, when INmune was a private company. Subject to compliance with the transaction documents, INmune will have the option to sell up to an additional $19.7 million in shares to LPC over a 24-month period. INmune believes this funding option will assist in the advancement of its drug development pipeline into phase II clinical trials. Per the terms of the common stock purchase agreement and once a registration statement relating to the transaction is declared effective, INmune will decide the timing and amount of any future sales of common stock and maintains the right to terminate the common stock purchase agreement at any time. “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,” INmune Bio CFO David Moss stated in the news release.
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About INmune Bio, Inc.
INmune Bio, Inc. is a publicly traded clinical-stage biotechnology company developing therapies targeting the innate immune system to fight disease. INmune Bio is developing three product platforms: two products that reengineer the patient’s innate immune system’s response to cancer and one product to treat neuroinflammation that is currently focused on Alzheimer’s disease. INKmune is a natural killer (“NK”) cell therapeutic that primes the patient’s NK cells to attack minimal residual disease, the remaining cancer cells that are difficult to detect, which often cause relapse. INB03 inhibits myeloid derived suppressor cells (“MDSC”), which often cause resistance to immunotherapy, such as anti-PD-1 checkpoint inhibitors. XPro1595 targets neuroinflammation, which causes microglial activation and neuronal cell death. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic malignancies, solid tumors and chronic inflammation. For more information, visit the company’s website at www.INmuneBio.com.
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