INMUNE BIO, INC. ANNOUNCES $40 MILLION REGISTERED DIRECT OFFERING
14 July 2021 - 11:02PM
INmune Bio, Inc. (NASDAQ: INMB) (the “Company” or “INmune Bio”), a
clinical-stage immunology company focused on developing treatments
that harness a patient’s innate immune system to fight disease,
today announced that it has entered into a definitive agreement
with one healthcare focused institutional investor and one family
office for the purchase and sale of 1,818,182 shares of its common
stock at a price of $22.00 per share for gross proceeds of
approximately $40 million in a registered direct offering. The
closing of the offering is expected to occur on or about July 16,
2021, subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as the
sole placement agent for the offering.
INmune Bio intends to use the net proceeds from this offering
for working capital and general corporate purposes and to advance
the development of its product candidates and expand its pipeline.
This includes the completion and data readout from the Company’s
planned Phase 2 clinical trial of its lead clinical candidate,
XPro1595, in patients suffering from Alzheimer’s disease, which is
expected to commence by the end of 2021. “With this investment, we
expect the Company’s Phase II program in Alzheimer’s disease is
completely funded” said RJ Tesi MD, CEO of Inmune Bio.
The securities described above will be offered by
the Company pursuant to an effective “shelf” registration statement
on Form S-3 (File No. 333-254221) previously filed with the
Securities and Exchange Commission (the “SEC”) on March 12, 2021
and declared effective by the SEC on May 5, 2021. The
securities may be offered only by means of a prospectus. A
preliminary prospectus supplement and the accompanying prospectus
relating to and describing the offering will be filed with the SEC.
Electronic copies of the prospectus supplement may be obtained,
when available, from A.G.P./Alliance Global Partners, 590 Madison
Avenue, 28th Floor, New York, NY 10022, or by telephone at (212)
624-2060, or by email at prospectus@allianceg.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About INmune Bio, Inc.
INmune Bio, Inc. is a publicly traded (NASDAQ: INMB),
clinical-stage biotechnology company focused on developing
treatments that target the innate immune system to fight disease.
INmune Bio has two product platforms. The DN-TNF product platform
utilizes dominant-negative technology to selectively neutralize
soluble TNF, a key driver of innate immune dysfunction and
mechanistic target of many diseases. DN-TNF is currently being
developed for COVID-19 complications (Quellor™), cancer (INB03™),
Alzheimer’s and Treatment Resistant Depression (XPro1595), and NASH
(LIVNate™). The Natural Killer Cell Priming Platform includes
INKmune™ aimed at priming the patient’s NK cells to eliminate
minimal residual disease in patients with cancer. INmune Bio’s
product platforms utilize a precision medicine approach for the
treatment of a wide variety of hematologic malignancies, solid
tumors and chronic inflammation with components of the innate
immune system. To learn more, please visit www.inmunebio.com.
Forward Looking Statements
Clinical trials are in early stages and there is no assurance
that any specific outcome will be achieved. Any statements
contained in this press release that do not describe historical
facts may constitute forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995 including but not limited statements related to the expected
timing of the closing and the intended use of proceeds. Any
forward-looking statements contained herein are based on current
expectations but are subject to a number of risks and
uncertainties. Actual results and the timing of certain events and
circumstances may differ materially from those described by the
forward-looking statements as a result of these risks and
uncertainties. INB03™, Quellor™, XPro1595, LIVNate™, and INKmune™
are still in clinical trials or preparing to start clinical trials
and have not been approved and there cannot be any assurance that
they will be approved or that any specific results will be
achieved. The factors that could cause actual future results to
differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company’s
ability to produce more drug for clinical trials; the availability
of substantial additional funding for the Company to continue its
operations and to conduct research and development, clinical
studies and future product commercialization; and, the Company’s
business, research, product development, regulatory approval,
marketing and distribution plans and strategies. These and other
factors are identified and described in more detail in the
Company’s filings with the Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K, the Company’s
Quarterly Reports on Form 10-Q and the Company’s Current Reports on
Form 8-K. The Company assumes no obligation to update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this release.
INmune Bio Contact: David Moss, CFO (858) 964-3720
DMoss@INmuneBio.com
Investor Contact: James Carbonara (646)
755-7412 James@haydenir.com
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