INmune Bio Inc. Raises Approximately $4.8 Million in Gross Proceeds Through Registered Direct Offering with Officers, Employees and Directors Purchasing Approximately 20% of the Offering

Boca Raton, Florida, April 22, 2024 (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 announced today that it has entered into definitive agreements for the sale and purchase of 571,592 shares of its common stock with above market warrant exercise price  that include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzhzimer’s Disease program (as further described  below).  The warrants give the investor the right to purchase 571,592 additional shares of its common stock in a registered direct offering. The offering was priced at the market based on the Friday, April 19^th Nasdaq consolidated closing bid price of $8.32 per share. The exercise price of the warrants is $9.152, which represents a 10% premium to the price at which the common shares were offered. The warrants terminate on the earlier of (1) the two (2) year anniversary of the initial exercise date of the warrant or (2) thirty (30) trading days following the reporting of top line data (EMACC) in the Phase 2 Alzheimer's program of XPro1595, (the “Termination Date”). The gross proceeds of this offering are approximately $4.8 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 24, 2024, subject to the satisfaction of customary closing conditions. Members of management and the Company’s board of directors and certain key employees participated in the offering and will pay a combined offering price for the common stock and warrants of $8.445 per share and warrant, and  in the case of officers and directors that participated in the offering, if the warrant termination date is on a blackout date then the officers and directors will have an additional 60 days from the termination of the blackout date to exercise the warrant.

The Company intends to use the net proceeds for completing the ongoing Phase 2 trial (AD02) in patients with Early Alzheimer’s Disease (AD) using XPro and the metastatic castration-resistant prostate cancer (mCRPC) Phase 1 trial using the INKmune technology.  

LifeSci Capital is acting as sole placement agent for this offering.   

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254221) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from LifeSci Capital LLC 250 West 55^th Street, Suite 3401, New York, New York 10019 or by telephone at [phone] or by email at [e-mail]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.