Ikena Oncology, Inc. announced the completion of its merger with Inmagene Biopharmaceuticals, officially launching the combined company as ImageneBio, Inc. The new entity will begin trading on The Nasdaq Capital Market under the ticker symbol 'IMA' at market open on Monday, July 28, 2025. This marks a definitive shift in strategic focus from oncology to immunological and inflammatory (I&I) diseases.
Concurrent with the merger's closing, ImageneBio completed a $75.0 million private placement, securing substantial capital from a syndicate of existing and new investors. These investors include Deep Track Capital, Foresite Capital, RTW Investments, BVF Partners L.P., Blue Owl Healthcare Opportunities, Omega Funds, and OrbiMed. This capital infusion is crucial for advancing the company's lead asset, IMG-007.
ImageneBio will be led by Chief Executive Officer Kristin Yarema, Ph.D., and will continue to drive the ongoing Phase 2b clinical trial of IMG-007 in patients with moderate-to-severe atopic dermatitis. The company anticipates a Phase 2b topline readout for IMG-007 in atopic dermatitis in the fourth quarter of 2026. Following a 1-for-12 reverse stock split, ImageneBio will have approximately 11.6 million shares of common stock outstanding.
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