Liminatus Pharma to acquire InnocsAI in stock merger valued at ~$320M

Liminatus Pharma, Inc.

1.6B shares at $0.20/share ($320M aggregate) plus contingent value rights of 20% of future net proceeds from asset sale.
Assets include CAR-T pipeline: IBC101 (Phase 1/2a in Korea for DLBCL) and preclinical INC101 for solid tumors.
CEO Chris Kim also controls Valetudo Therapeutics LLC, a member of InnocsAI, making the transaction a related-party deal.
Closing targeted by Dec 31, 2026, subject to stockholder approvals and other customary conditions.
Liminatus to file a registration statement/proxy statement for the stockholder vote.

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