Ikena Oncology ( (IKNA) ) has provided an announcement.
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Ikena Oncology and Inmagene Biopharmaceuticals have announced a definitive merger agreement, under which the combined company will focus on developing IMG-007, a monoclonal antibody aimed at treating atopic dermatitis and other inflammatory conditions. The transaction involves a private placement raising approximately $175 million, including $75 million from new and existing investors, and is expected to close in mid-2025. Following the merger, Ikena stockholders will own about 34.8% of the combined company, Inmagene equity holders will own 43.5%, and investors from the private placement will own 21.7%. The merger positions the combined company, to be named ImageneBio, to advance the development of IMG-007 and potentially extend its applications.
More about Ikena Oncology
Ikena Oncology is a biopharmaceutical company that develops therapies targeting cancer growth, spread, and therapeutic resistance, aiming to efficiently create the right drug for the right patient. Inmagene Biopharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for immunological and inflammatory diseases, with its lead asset being IMG-007, a non-depleting anti-OX40 monoclonal antibody.
YTD Price Performance: -21.32%
Average Trading Volume: 72,445
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $74.8M
Learn more about IKNA stock on TipRanks’ Stock Analysis page.
