ImageneBio Raises $30M to Advance IMG-007 Trials in Alopecia Areata and Atopic Dermatitis
ImageneBio secured gross proceeds of $30 million through a private placement led by Coastlands Capital, issuing pre-funded warrants for up to 5,770,335 shares at $5.199 per warrant with a $0.001 exercise price. Funds will advance IMG-007’s alopecia areata program and late-stage trial activities in moderate-to-severe atopic dermatitis.
1. Private Placement Terms
ImageneBio entered a securities purchase agreement with institutional investors led by Coastlands Capital to raise approximately $30 million in gross proceeds through pre-funded warrants. The company issued warrants for up to 5,770,335 shares at $5.199 per warrant with a $0.001 exercise price, with participation from Trails Edge Capital Partners, Omega Funds and OrbiMed.
2. Allocation of Proceeds
Proceeds from the private placement will support further development of IMG-007 in alopecia areata and late-stage activities for the Phase 2b ADAPTIVE trial in moderate-to-severe atopic dermatitis under an amended protocol designed to showcase differentiating features and advance toward Phase 3 readiness.
3. IMG-007 Clinical Development
IMG-007 is a non-depleting anti-OX40 monoclonal antibody with receptor-targeting, disease-modifying potential. ImageneBio has completed Phase 1b/2a studies in both indications and is currently conducting a Phase 2b trial in atopic dermatitis, with prior proof-of-concept data showing promising durability and tolerability.