InMed Pharmaceuticals Enters All-Stock Merger Agreement with Mentari Therapeutics
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 19 2026
0mins
InMed Pharmaceuticals has entered into a definitive merger agreement for an all-stock transaction with Mentari Therapeutics, a privately-held biotechnology company developing therapies for migraine prevention, Indigo Merger Sub Corp. a wholly-owned subsidiary of InMed, and Indigo Merger Sub II, a wholly-owned subsidiary of InMed. The merger brings together Mentari's differentiated migraine pipeline with InMed's public market infrastructure, positioning the combined company to expedite the development of new therapies for people living with migraine. Upon consummation of the transaction contemplated by the Agreement, the combined entity will operate as Mentari Therapeutics and trade on the Nasdaq Capital Market under a new ticker symbol. The private placement will result in gross proceeds to the combined company of approximately $290M and is expected to fully fund its operations through 2028, beyond the generation of anticipated key clinical datasets from Mentari's parallel lead programs. These programs include MT-001, an anti-PACAP monoclonal antibody with Phase 2a proof-of-concept data expected in 2028, and MT-002, a potentially first-in-class bispecific antibody with Phase 1 healthy volunteer data expected in 2027.
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About INM
InMed Pharmaceuticals Inc. is a pharmaceutical company. The Company develops a pipeline of small molecule drug candidates targeting the CB1/CB2 receptors. Its InMed Pharma segment is engaged in the research and development of small molecule pharmaceuticals drug candidates. Its BayMedica Commercial segment is engaged in the manufacturing technologies to produce and commercialize bulk rare cannabinoids for sale as ingredients in the health and wellness industry. Its pharmaceutical pipeline consists of three programs, with drug candidates targeting Alzheimer’s disease, dry age-related macular degeneration, and Epidermolysis Bullosa. Its INM-901 is a drug candidate being developed as a potential treatment for Alzheimer’s disease. Its INM-089 is a small molecule drug candidate being studied for its potential as a treatment for age-related macular degeneration. Its INM-755 is a topical cream which has completed Phase 2 clinical trial studies for the treatment of epidermolysis bullosa.
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.
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