Ikena completes reverse merger with Inmagene, becomes ImageneBio; focuses on IMG-007 for atopic dermatitis

ImageneBio, Inc.

Merger closed July 25: Ikena acquired Inmagene, name changed to ImageneBio, ticker changes to IMA on Nasdaq Capital Market.
Reverse stock split 1-for-12; post-merger shares ~11.2M; pre-merger Inmagene holders get ~43.5% of combined co.
Only clinical asset: IMG-007 (anti-OX40 mAb) in Phase 2b ADAPTIVE trial for atopic dermatitis; non-OX40 assets divested.
CVR agreements provide contingent payments to legacy Ikena and Inmagene shareholders from future asset sales.
PIPE investors own ~21.5%; Hutchmed license has up to $92.5M in development/regulatory milestones plus royalties.

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