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Highlights

  • ImageneBio, Inc. will begin trading on Nasdaq under the ticker “IMA” starting July 28, 2025.
  • The company closed a USD 75.0 million private placement with existing and new institutional investors.
  • Legacy Inmagene and Ikena shareholders own 43.1% and 35.3% of the combined company post-financing, respectively.

ImageneBio, Inc. (Nasdaq: IMA) will commence trading on the Nasdaq Capital Market at market open on July 28, 2025, following the completed merger between Inmagene Biopharmaceuticals and Ikena Oncology, Inc. The combined clinical-stage biotechnology company will continue its focus on immunological and inflammatory diseases, led by CEO Dr. Kristin Yarema.

Coinciding with the merger, the companies completed a USD 75.0 million private placement involving investors such as Deep Track Capital, Foresite Capital, RTW Investments, and several existing Ikena backers including BVF Partners L.P. and OrbiMed. The transaction structure resulted in Inmagene legacy equity holders owning approximately 43.1%, Ikena holders 35.3%, and new private placement investors 21.6% of ImageneBio’s outstanding common stock, all on a fully diluted basis. The combined entity now has approximately 11.6 million shares outstanding.

In preparation for the merger, Ikena implemented a 1-for-12 reverse stock split. Based on the final exchange ratio of 0.003051 shares of Ikena common stock per Inmagene share, legacy Inmagene stakeholders initially held 55.0% and Ikena shareholders 45.0% of the combined company prior to the financing round.

ImageneBio will continue advancing its lead clinical asset, IMG-007, a non-depleting anti-OX40 monoclonal antibody. A Phase 2b trial targeting moderate-to-severe atopic dermatitis is ongoing, with topline data expected in the fourth quarter of 2026. Earlier-stage results in atopic dermatitis and alopecia areata have already been completed.

The merger was facilitated by legal and financial advisors including Goodwin Procter LLP for Ikena, Cooley LLP for Inmagene, Leerink Partners LLC as financial advisor to Ikena, and Evercore advising Inmagene. ImageneBio’s new CUSIP number is 45175G 207.With the merger now finalized, the company positions itself for continued development of its core pipeline within the immunological and inflammatory disease space.