Mentari Therapeutics closes InMed merger, raises $490M; MTRI begins Nasdaq trading Nov 9

InMed Pharmaceuticals Inc.

Merger with InMed Pharmaceuticals completed; combined company is Mentari Therapeutics, trading on the Nasdaq Capital Market under ticker MTRI from Nov 9, 2026.
Private financings totaled ~$490M gross, led by Fairmount, with Venrock, Blackstone, RTW, Wellington, a16z Bio + Health and others; includes conversion of $50.0M of convertible notes.
~58.3M shares and common stock equivalents outstanding after reverse split, financings and merger (excluding equity awards); proceeds fund runway into 2029 and beyond.
MT-001 anti-PACAP monoclonal antibody in Phase 1 with initial data expected mid-2027; MT-002 PACAP/CGRP bispecific on track for regulatory filing Q1 2027, data by year-end 2027.
Greg Divis is CEO of the combined company; Todd Shegog appointed to the board as Audit Committee chair in connection with the closing.

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