IN8bio prices $40.2 million private placement for cancer therapy

IN8bio Inc. (NASDAQ: INAB) announced it entered into a securities purchase agreement for up to $40.2 million in gross proceeds through a private placement to fund development of its gamma-delta T cell engager INB-619.

The financing includes an initial closing of $20.1 million and a potential additional $20.1 million contingent on achieving milestones related to preclinical data for INB-619 and share price targets. The initial tranche will sell 5,127,029 shares at $1.38 per share and pre-funded warrants to purchase up to 9,452,677 shares at $1.3799 each.

Coastlands Capital led the financing with participation from new and existing investors including Stonepine Capital Management and 683 Capital Partners, along with company directors and officers. H.C. Wainwright & Co. serves as the exclusive placement agent.

The company plans to use proceeds to fund investigational new drug enabling studies for INB-619, targeting both oncology and autoimmune diseases. IN8bio expects to generate early animal model data for initial FDA discussions in 2026, with potential IND submission in 2027.

Additional funds will support submission of data from INB-200 and INB-400 Phase 1 and Phase 2 clinical programs in newly diagnosed glioblastoma to the FDA for guidance on potential registration pathways. The initial proceeds extend the company's cash runway into the first half of 2027.

The initial closing is expected to occur around December 22, 2025, subject to customary closing conditions. The securities are being sold through a private placement exemption under the Securities Act of 1933.

You May Also Be Interested In

• Intelligent Bio Solutions raises $5M in private placement
• BlossomHill to present BH-30643 trial data at lung cancer conference
• Yum! Brands completes Pizza Hut sale to LongRange for $1.5B