{"id":523523,"date":"2021-08-04T16:23:11","date_gmt":"2021-08-04T20:23:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/inmune-bio-inc-announces-second-quarter-2021-results-and-provides-business-update\/"},"modified":"2021-08-04T16:23:11","modified_gmt":"2021-08-04T20:23:11","slug":"inmune-bio-inc-announces-second-quarter-2021-results-and-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/inmune-bio-inc-announces-second-quarter-2021-results-and-provides-business-update\/","title":{"rendered":"INmune Bio, Inc. Announces Second Quarter 2021 Results and Provides Business Update"},"content":{"rendered":"

\nCompany to host conference call today, August 4, at 4:30pm ET
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BOCA RATON, Fla., Aug. 04, 2021 (GLOBE NEWSWIRE) — INmune Bio, Inc.<\/a> (NASDAQ: INMB) (the \u201cCompany\u201d), a clinical-stage immunology company focused on developing treatments that harness the patient\u2019s innate immune system to fight disease, today reported its financial results for the second quarter ended June 30, 2021 and provided a business update.<\/p>\n

\u201cWe continue our planning and setup for a Phase 2 clinical trial of our lead candidate, XPRO\u2122 (Xpro1595\u2122), in patients with mild Alzheimer\u2019s disease, which we plan to initiate by year-end,\u201d stated RJ Tesi, M.D. \u201cWe have already demonstrated that XPRO\u2122 can reduce neuroinflammation and decreases biomarkers of neurodegeneration and improve synaptic function. If successful in Phase 2, we believe XPRO\u2122 has the potential to be among the most significant advancements in the treatment of Alzheimer\u2019s Disease (AD) and other neurodegenerative diseases in many years.\u201d<\/p>\n

Dr. Tesi continued, \u201cAt the Alzheimer\u2019s Association International Conference last week, we introduced a new biomarker – Apparent Fiber Density (AFD), a measure of axonal integrity measured by MRI. XPRO\u2122 increases AFD in patients receiving 1mg\/kg\/week. We believe the novel non-invasive white matter analytics of white matter free water and apparent fiber density will be very useful in the development of XPRO\u2122 in AD, Treatment Resistant Depression (TRD) and the many other CNS indications we hope to attack in the future.\u201d<\/p>\n

\u201cWith the completion of a registered direct offering during July 2021 in which the Company raised $36.9 million of net proceeds combined with the Company raising $15.0 million of net proceeds from the sale of common stock through the ATM, also in July 2021, we are well financed to Phase 2 Alzheimer\u2019s data and other milestones such as clinical data from INKmune and other developments with our DN-TNF franchise\u00a0assuming no material delays caused by the pandemic,\u201d said David Moss, CFO.<\/p>\n

\u201cLast month, we treated the first patient in the first Phase 1 clinical trial of our NK cell priming platform, INKmune, in high-risk myelodysplastic syndrome (MDS),\u201d stated RJ Tesi, M.D. \u201cWe are calling INKmune a pseudokine because, in vitro, it converts the resting NK cells into memory-like NK cells that can kill cancer cells as well or better than NK cells treated cytokines such as IL-12, IL-15 and IL-18 alone or in combination.\u201d<\/p>\n

\u201cOur preliminary data from the first patient treated with INKmune support the safety of this approach and give the first confirmation that the in vitro effects of INKmune on NK cells does translate to patients,\u201d said Professor Mark Lowdell, PhD. \u201cI am particularly excited to see NK cells expanding in our first patient, treated at the lowest dose, which are activated and express cytotoxicity receptors for tumor cells.\u00a0 We are planning to open a second site for the MDS trial in the UK shortly and to open a second Phase 1 trial, in ovarian cancer in the coming months; although both are subject to ongoing COVID-related restrictions.\u201d<\/p>\n

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