Mentari Therapeutics announced a $200 million private placement that extends its cash runway into 2029 and funds two PACAP-targeted leads (MT-001 and MT-002). The financing is tied to the merger with InMed Pharmaceuticals, with completion expected to trigger a new combined company trading under Mentari on the Nasdaq, and about 601 million shares outstanding post-close.
InMed Pharmaceuticals has entered a merger agreement with Mentari Therapeutics, focusing on migraine therapies. The transaction will create a new entity with significant funding to advance drug development, likely enhancing INM's market position and valuation.
INM-901 confirmed as an oral formulation for Alzheimer’s disease. Preclinical studies show oral INM-901 achieves similar brain drug levels as IP delivery. Oral delivery offers significant advantages for drug development in Alzheimer's treatment. INM stock increased 241.8% to $0.51 after the announcement.