IN8bio Announces Pricing of Private Placement of up to $40.2 Million to Advance Novel Gamma-Delta T Cell Engager

Core Viewpoint - IN8bio has secured a private placement financing of approximately $40.2 million to advance its γδ T cell therapies, particularly focusing on the INB-619 product candidate for cancer and autoimmune diseases [2][4]. Financing Details - The financing includes an initial closing of about $20.1 million, with the potential for an additional $20.1 million based on milestone achievements [1][4]. - The initial tranche involves the sale of 5,127,029 shares of common stock at $1.38 per share and pre-funded warrants for up to 9,452,677 shares at a price of $1.3799 [4]. - The financing is led by Coastlands Capital, with participation from other investors such as Stonepine Capital Management and 683 Capital Partners [3][4]. Use of Proceeds - The net proceeds will fund IND enabling studies for INB-619, with early animal model data expected for discussions with the FDA in 2026 and potential IND submission in 2027 [5]. - A portion of the funds will also support the submission of data from the INB-200 and INB-400 Phase 1 and Phase 2 clinical programs for glioblastoma to the FDA [5]. Company Overview - IN8bio is a clinical-stage biopharmaceutical company focused on developing γδ T cell therapies for unmet medical needs, particularly in oncology and autoimmune diseases [9][10]. - The lead program, INB-100, targets acute myeloid leukemia, while INB-200 and INB-400 focus on glioblastoma [10].