ImageneBio Announces $30 Million Private Placement
MWN-AI** Summary
ImageneBio, Inc. (Nasdaq: IMA) has announced a definitive securities purchase agreement for a private placement expected to yield approximately $30 million in gross proceeds. The placement is mainly led by Coastlands Capital, along with participation from new and existing investors, including Trails Edge Capital Partners and Omega Funds.
The funds raised will primarily be allocated to advancing the development of IMG-007, which is an innovative non-depleting OX40 antagonist that is currently undergoing clinical trials for conditions such as alopecia areata and moderate-to-severe atopic dermatitis. CEO Kristin Yarema expressed excitement about the company's progress, particularly in the Phase 2b ADAPTIVE trial for atopic dermatitis, highlighting IMG-007's unique position in the immune-cascade and its potential to provide disease-modifying therapy.
Imagene has demonstrated promising clinical proof-of-concept for IMG-007 in alopecia areata, and the company sees a significant unmet need for biologics that offer sustained efficacy and a favorable tolerability profile in this space. The offering involves pre-funded warrants to purchase up to 5,770,335 shares of common stock at $5.199 each, with an exercise price of $0.001.
However, the private placement securities are not registered under the Securities Act, which means they cannot be reoffered or resold in the U.S. until they meet registration requirements. As forward-looking statements are prevalent throughout the announcement, Imagene cautioned that risks tied to market conditions, clinical trial outcomes, and capital sufficiency could influence future results and should be taken into account by potential investors.
MWN-AI** Analysis
ImageneBio’s recent announcement of a $30 million private placement underscores the growing confidence in its lead product, IMG-007, a non-depleting OX40 antagonist currently in clinical trials for alopecia areata and moderate-to-severe atopic dermatitis. This funding, spearheaded by Coastlands Capital alongside various new and existing investors, is crucial for sustaining the momentum of its Phase 2b ADAPTIVE trial and advancing the development of IMG-007 in other indications.
The commitment from investors reflects a positive sentiment towards IMG-007's differentiating features and its potential as a disease-modifying therapy. Given the unmet needs in both alopecia areata and atopic dermatitis—spaces characterized by high patient demand for effective treatments—ImageneBio is strategically positioned to capitalize on this opportunity.
Investors should closely monitor the company's clinical progress, particularly the amended protocol designed to enhance the effectiveness of the ongoing trials. Promising results from such trials can lead to increased investor interest and drive stock performance. The private placement also suggests that ImageneBio is proactively securing resources to navigate potential challenges in clinical development, with a focus on maintaining its competitive edge in the biopharmaceutical landscape.
However, the company must manage risks such as market volatility and the uncertainty inherent in clinical trials, where outcomes can significantly influence stock valuations. Potential investors should weigh the optimistic outlook against these risks, considering the company's historical performance and the broader market environment.
In conclusion, while ImageneBio seems well-positioned for future growth with IMG-007, aspiring investors should remain prudent, staying informed about clinical developments and market dynamics. This investment could present a compelling opportunity for those looking to engage with innovative biotech firms focused on transformative therapies.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
| Private placement led by Coastlands Capital with participation from additional new and existing investors |
| Proceeds will support further development of IMG-007 in alopecia areata and late-stage development activities for the ongoing program in moderate-to-severe atopic dermatitis |
| IMG-007 is the lead receptor-targeting, non-depleting OX40 antagonist in active clinical development |
SAN DIEGO, April 13, 2026 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA)(“Imagene” or the “Company”) today announced it has entered into a definitive securities purchase agreement with certain institutional investors in a private placement that is expected to result in gross proceeds of approximately $30 million to Imagene, before deducting placement agent fees and other expenses. The company intends to use the proceeds from the offering to support further development of IMG-007 in alopecia areata and late-stage development activities in atopic dermatitis.
“We are thrilled to be joined by this exceptional group of investors who share our conviction about IMG-007 and OX40, as well as our vision for the value of Imagene,” said Kristin Yarema, Ph.D., chief executive officer of Imagene. “We believe IMG-007, working upstream of other targets in the immune-cascade, is strongly differentiated, with disease-modifying potential. We are pleased with the progress of our Phase 2b ADAPTIVE trial in atopic dermatitis and excited to be moving forward as planned under our amended protocol. The amended protocol is designed to showcase IMG-007’s differentiating features and expand the range of exposures to IMG-007 while continuing to be Phase 3-enabling. This investor support of our strategy also gives us the opportunity to advance our alopecia areata program, an indication where we have already seen promising clinical proof-of-concept with IMG-007 and where there is great unmet need for a biologic with durable efficacy and a strong tolerability profile.”
Pursuant to the terms of the securities purchase agreement, Imagene is selling pre-funded warrants to purchase up to 5,770,335 shares of common stock at a price of $5.199 per pre-funded warrant. The pre-funded warrants will have an exercise price of $0.001 per share.
The private placement is being led by a new investor, Coastlands Capital, and includes participation from additional new investors, including Trails Edge Capital Partners and existing investors, including Omega Funds and OrbiMed.
Leerink Partners is acting as sole placement agent for the private placement.
The securities offered in this private placement, including the shares underlying the pre-funded warrants, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, as the transaction was conducted without a public offering. These securities may therefore not be reoffered or resold in the United States absent an effective registration statement or an applicable exemption under the Securities Act and applicable state securities laws. In connection with the private placement, investors have been granted customary resale registration rights for the common stock issuable upon exercise of the pre-funded warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About ImageneBio, Inc.
Imagene is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune and inflammatory diseases with differentiated clinical profiles. The Company’s program, IMG-007, is a receptor targeting, nondepleting anti-OX40 monoclonal antibody with multiple differentiating features. Imagene has completed Phase 1b/2a clinical trials of IMG-007 in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of IMG-007 in patients with moderate-to-severe atopic dermatitis.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future,” “potential” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited to, statements regarding the timing, size, pricing and completion of the private placement; statements regarding IMG-007’s disease modifying potential; the amended protocol design will continue to be phase 3 enabling; Imagene’s expected use of the proceeds from the private placement; and other statements that are not historical facts. Because such statements are subject to risks and uncertainties, many of which are outside of Imagene’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include: risks and uncertainties related to market conditions; volatility in the trading price of Imagene’s common stock; Imagene’s ability to initiate or progress clinical trials on the anticipated timelines, if at all; the potential for results from clinical trials to differ from nonclinical, early clinical, preliminary or expected results; reliance on the clinical results from third-party product candidates and/or approved drugs to support advancement and the potential of Imagene’s product candidates; implementation of Imagene’s strategic plans for its business and product candidates; the sufficiency of Imagene’s capital resources and need for additional capital to achieve its goals; and other risks and uncertainties described more fully under the heading “Risk Factors” in Imagene’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC), and elsewhere in Imagene’s filings and reports, which may be accessed for free by visiting the SEC’s website and on Imagene’s website under the heading “Investors.” Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. Imagene undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Company and Investor Contact
Rebecca Cohen
rcohen@imagenebio.com
Media Contact:
Jason Braco, Ph.D.
The Health & Science Agency
jason@healthscienceagency.com
FAQ**
How does ImageneBio Inc. IMA plan to allocate the gross proceeds from the $30 million private placement to maximize the development of IMG-007 in alopecia areata and atopic dermatitis?
What specific differentiating features of IMG-007 does ImageneBio Inc. IMA believe will enhance its competitive edge in treating moderate-to-severe atopic dermatitis?
Can you provide insight into the promising clinical proof-of-concept results for IMG-007 in alopecia areata that ImageneBio Inc. IMA has observed prior to this funding?
What specific milestones does ImageneBio Inc. IMA expect to achieve in the ongoing Phase 2b ADAPTIVE trial for atopic dermatitis following this private placement?
**MWN-AI FAQ is based on asking OpenAI questions about ImageneBio Inc. (NASDAQ: IMA).
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