Ikena, Inmagene in Agreement for Merger and Private Placement

 Inmagene Biopharmaceuticals is a clinical stage company focused on developing IMG-007, a non-depleting anti-OX40 monoclonal antibody with an extended half-life and a silenced ADCC function

The transaction is expected to result in approximately $175 million to support further development of IMG-007, including $75 million from an oversubscribed Private Placement that will close immediately following the merger

The Financing includes both new investors such as Deep Track Capital, Foresite Capital, RTW Investments, and existing Ikena investors such as BVF Partners L.P., Blue Owl Healthcare Opportunities, Omega Funds, and OrbiMed

The transaction is expected to close in mid-2025

https://www.globenewswire.com/news-release/2024/12/23/3001242/0/en/Ikena-Oncology-and-Inmagene-Biopharmaceuticals-Announce-Agreement-for-Merger-and-Private-Placement.html