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INmune Bio, Inc. Receives Approximately $6.4 Million in Research and Development Rebates from Australia and the United Kingdom
BOCA RATON, Fla., Feb. 08, 2023 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing
About this update from Inmune Bio Inc.
[{"type":"text","content":"BOCA RATON, Fla., Feb. 08, 2023 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, today announces that it has received a combined approximately $6.4 million in research and development refunds from both Australia (~$3.7 million) and the United Kingdom (~$2.7 million). The Company will use the rebates to reinvest in its clinical programs, particularly the ongoing Phase 2 Alzheimer’s Disease (AD) trial in Australia and Canada. “The R&D rebates are a non-dilutive source of funding that enable INmune to meaningfully reinvest the proceeds to increase recruitment and enrollment in both Australia where we expect to continue to receive future rebates associated with increased spend and Canada where we are expanding the Phase 2 AD program. We continue to expand our international enrollment and are working diligently on trying to open additional international countries for the Phase 2 AD trial while we continue to collaborate with the FDA and its manufacturing review of the planned U.S. trial,” commented David Moss, Chief Financial Officer. About INmune Bio, Inc. INmune Bio, Inc. is a publicly traded (NASDAQ: INMB), clinical-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune Bio has two product platforms that are both in clinical trials: The Dominant-Negative Tumor Necrosis Factor (DN-TNF) product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and a mechanistic driver of many diseases. DN-TNF product candidates are in clinical trials to determine if they can treat cancer (INB03™), Mild Alzheimer’s disease, Mild Cognitive Impairment and treatment-resistant depression (XPro™). The Natural Killer Cell Priming Platform includes INKmune™ developed to prime a patient’s NK cells to eliminate minimal residual disease in patients with cancer. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic and solid tumor malignancies, and chronic inflammation. To learn more, please visit www.inmunebio.com. Forward Looking Statements Clinical trials are in early stages and there is no assuran...