Inmagene Biopharmaceuticals Announces Completion of Merger with Ikena Oncology and Concurrent Private Placement of $75 Million

Core Viewpoint - The merger between Inmagene Biopharmaceuticals and Ikena Oncology has been completed, resulting in the formation of ImageneBio, Inc., which will focus on advancing its lead asset, IMG-007, for the treatment of immunological and inflammatory diseases [1][2][3] Company Overview - ImageneBio, Inc. is a clinical-stage biotechnology company dedicated to developing disease-modifying treatments for immunological/autoimmune and inflammatory diseases [6] - The company aims to create new medicines with differentiated profiles to effectively control and change the course of these diseases, improving patients' quality of life [6] Merger Details - The merger was finalized on July 25, 2025, and the combined company will trade on Nasdaq under the ticker symbol "IMA" starting July 28, 2025 [1][4] - A $75 million private placement was completed concurrently with the merger, involving both existing and new investors [2] Leadership - Kristin Yarema, Ph.D., has been appointed as the Chief Executive Officer of the combined company [2] Clinical Development - ImageneBio will continue the Phase 2b clinical trial of IMG-007, a non-depleting anti-OX40 monoclonal antibody, in patients with moderate-to-severe atopic dermatitis, with topline results expected in Q4 2026 [1][3] - IMG-007 has shown sustained clinical and pharmacodynamic activity in previous Phase 2a trials and is engineered to minimize safety risks [7] Stock Structure - Following a reverse stock split of 1-for-12 shares, legacy equity holders of Inmagene will own approximately 43.1% and legacy equity holders of Ikena will own approximately 35.3% of the combined company's outstanding common stock on a fully diluted basis [4]