Ikena Oncology Announces ISS and Glass Lewis Recommend Stockholders Vote “FOR” Proposed Merger with Inmagene Biopharmaceuticals

Core Viewpoint - Ikena Oncology, Inc. has received recommendations from Institutional Shareholder Services Inc. and Glass, Lewis & Co. to vote in favor of the share issuance related to the proposed merger with Inmagene Biopharmaceuticals at the upcoming Annual Meeting of Stockholders on July 15, 2025 [1][2]. Company Overview - Ikena Oncology focuses on developing differentiated therapies targeting cancer growth, spread, and therapeutic resistance [6]. - Inmagene Biopharmaceuticals is a clinical-stage biotechnology company developing novel therapeutics for immunological and inflammatory diseases, with its lead asset IMG-007 recently completing a Phase 2a clinical trial in atopic dermatitis [5][6]. Product Details - IMG-007 is a humanized anti-OX40 monoclonal antibody designed to minimize safety risks and enable less frequent dosing regimens, with a half-life of 34.7 days [7]. - The drug has shown marked clinical activity and a well-tolerated safety profile in patients with moderate-to-severe atopic dermatitis during its Phase 2a trial [7]. Merger Details - The share issuance related to the merger is included in "PROPOSAL 1" of the proxy vote, alongside six additional proposals for the Annual Meeting [4]. - Stockholders as of May 22, 2025, are entitled to vote at the meeting, which will be held virtually [4]. Market Potential - The Ikena Board is optimistic about the merger with Inmagene, citing the potential of IMG-007 to create shareholder value in the immunological and inflammatory space [3].