Inhibikase Therapeutics closes up to $275M financing, advances IkT-001Pro

Inhibikase Therapeutics (IKT) announced the closing of a private placement of approximately $110 Million from the issuance and sale of shares of the Company’s common stock and accompanying warrants with potential aggregate financing of up to approximately $275 Million upon the full cash exercise of the warrants issued in the private placement, before deducting placement agent fees and offering expenses. The financing will fund execution of the Phase 2b ‘702’ trial in Pulmonary Arterial Hypertension and for general corporate purposes. Concurrent with the closing of this financing, three leaders in biopharmaceutical development and a Partner of Soleus Capital with deep experience in financing cardiopulmonary therapeutics development will join the Board of Directors at the closing of this transaction. Roberto Bellini, former CEO of BELLUS Health and current Managing Partner of BSQUARED Capital, Amit Munshi, current CEO of Orna Therapeutics and former CEO of Arena Pharmaceuticals, Arvind Kush, current CFO of Candid Therapeutics and former CFO of RayzeBio and David Canner, Partner at Soleus Capital, have been appointed to the Inhibikase Board of Directors. In addition to joining the Board of Directors, Messers. Bellini, Munshi and Kush will each participate in the transaction. Mr. Bellini has been appointed Independent Chairperson of the Inhibikase Board coincident with the closing. In addition to these new Board members, Ms. Gisele Dion, Chair of the Audit Committee and Dr. Paul Grint, Chair of the Compensation Committee, have resigned from their service on the Board.