iKena Oncology, Inmagene enter definitive merger agreement, private placement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2024
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Merger Agreement: Ikena Oncology and Inmagene Biopharmaceuticals have finalized a merger agreement, leading to the formation of a new company named "ImageneBio," which will focus on developing IMG-007, a monoclonal antibody targeting OX40 for treating atopic dermatitis and other inflammatory conditions.
Ownership and Leadership Structure: Post-merger, Ikena stockholders will own approximately 34.8% of ImageneBio, while Inmagene equity holders will hold about 43.5%. The board will include members from both companies, and a search for a new CEO has been initiated, with the transaction expected to close in mid-2025 pending shareholder approval.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
