Inhibikase Therapeutics Announces Closing of up to $275 Million Financing and Advancement of IkT-001Pro into a Late Stage Clinical Trial in Pulmonary Arterial Hypertension

Core Insights - Inhibikase Therapeutics has successfully closed a private placement raising approximately $110 million, with potential total financing of up to$275 million through warrants, aimed at funding the Phase 2b trial for IkT-001Pro in Pulmonary Arterial Hypertension (PAH) and general corporate purposes [1][2] Company Overview - Inhibikase Therapeutics is a clinical-stage pharmaceutical company focused on developing protein kinase inhibitor therapeutics targeting cardiopulmonary and neurodegenerative diseases through Abelson Tyrosine Kinase inhibition [1][10] - The company’s lead product, IkT-001Pro, is a prodrug formulation of imatinib mesylate, designed to improve the safety profile of imatinib, which is used for various cancers and has shown potential benefits in PAH [7][10] Financial Highlights - The private placement financing will support the execution of the Phase 2b '702' trial for IkT-001Pro and other corporate needs [1][2] - The financing is considered transformational, reflecting the confidence of top-tier healthcare investment funds in the potential of IkT-001Pro to improve patient outcomes in PAH [2] Leadership Changes - Concurrent with the financing, Inhibikase appointed several experienced leaders in biopharmaceutical development to its Board of Directors, including Roberto Bellini, Amit Munshi, Arvind Kush, and David Canner [2][3] - Roberto Bellini has been appointed as the Independent Chairperson of the Board, bringing extensive experience from his previous role as CEO of BELLUS Health [3][4] Product Development - IkT-001Pro has shown in preclinical studies to be up to 3.4 times safer and better tolerated than imatinib, potentially reducing gastrointestinal and other side effects associated with oral administration [7] - The FDA has cleared the 702 trial for clinical entry at Phase 2b, and IkT-001Pro has received Orphan Drug Designation for Stable-Phase CML, with a similar designation currently under review for PAH [7]