INmune Bio Inc. Completes Repayment of Silicon Valley Bank Debt
INmune Bio (NASDAQ: INMB) has announced the complete repayment of its $15.0 million Term Loan from Silicon Valley Bank and SVB Innovation Credit Fund VIII, L.P. The loan, borrowed in 2021, was fully repaid on December 2, 2024, ahead of its January 1, 2025 maturity date. The company's CFO, David Moss, noted that this repayment will reduce quarterly cash burn and strengthen the balance sheet before upcoming Phase 2 Alzheimer's Disease trial data.
The company also mentioned the over-enrollment of its AD02 Trial in Alzheimer's Disease, focusing on Early AD patients with elevated neuroinflammation biomarkers. Top-line cognitive data from this six-month phase 2 trial is expected in Q2 2025.
INmune Bio (NASDAQ: INMB) ha annunciato il rimborso completo del suo prestito a termine di 15,0 milioni di dollari da Silicon Valley Bank e SVB Innovation Credit Fund VIII, L.P. Il prestito, contratto nel 2021, è stato completamente rimborsato il 2 dicembre 2024, prima della scadenza prevista per il 1 gennaio 2025. Il CFO dell'azienda, David Moss, ha sottolineato che questo rimborso ridurrà il consumo di cassa trimestrale e rafforzerà il bilancio prima dei prossimi dati della fase 2 della sperimentazione clinica sulla malattia di Alzheimer.
L'azienda ha anche menzionato il sovra-ammontare del suo trial AD02 sulla malattia di Alzheimer, focalizzandosi su pazienti con AD precoce che presentano biomarcatori di neuroinfiammazione elevati. I dati cognitivi principali di questo trial di fase 2 della durata di sei mesi sono attesi nel secondo trimestre del 2025.
INmune Bio (NASDAQ: INMB) ha anunciado el reembolso completo de su préstamo a plazo de 15.0 millones de dólares de Silicon Valley Bank y SVB Innovation Credit Fund VIII, L.P. El préstamo, contraído en 2021, se reembolsó completamente el 2 de diciembre de 2024, antes de su fecha de madurez del 1 de enero de 2025. El CFO de la empresa, David Moss, señaló que este reembolso reducirá el consumo de efectivo trimestral y fortalecerá el balance antes de los próximos datos de la fase 2 del ensayo clínico sobre la enfermedad de Alzheimer.
La empresa también mencionó la sobrerreservación de su ensayo AD02 en la enfermedad de Alzheimer, centrándose en pacientes con AD temprana que tienen biomarcadores de neuroinflamación elevados. Se esperan datos cognitivos principales de este ensayo de fase 2 de seis meses en el segundo trimestre de 2025.
INmune Bio (NASDAQ: INMB)은 실리콘 밸리 은행 및 SVB Innovation Credit Fund VIII, L.P.로부터의 1,500만 달러의 장기 대출을 완전히 상환했다고 발표했습니다. 2021년에 차입한 이 대출은 2024년 12월 2일에 완전히 상환되었으며, 2025년 1월 1일 만기일보다 앞당겨 상환되었습니다. 회사의 CFO인 데이비드 모스(David Moss)는 이 상환이 분기별 현금 소모를 줄이고, 알츠하이머병 2상 임상시험 데이터 이전에 재무 상태를 강화할 것이라고 언급했습니다.
회사는 또한 알츠하이머병에 대한 AD02 시험이 과도하게 등록되었다고 언급하며, 신경 염증 바이오마커가 높을 경우 조기 AD 환자들에 중점을 두고 있습니다. 이 6개월 간의 2상 시험의 주요 인지 데이터는 2025년 2분기에 예상됩니다.
INmune Bio (NASDAQ: INMB) a annoncé le remboursement complet de son prêt à terme de 15,0 millions de dollars auprès de la Silicon Valley Bank et du SVB Innovation Credit Fund VIII, L.P. Ce prêt, contracté en 2021, a été entièrement remboursé le 2 décembre 2024, avant sa date d'échéance du 1er janvier 2025. Le CFO de l'entreprise, David Moss, a noté que ce remboursement réduira la consommation de trésorerie trimestrielle et renforcera le bilan de l'entreprise avant les prochaines données de l'essai de phase 2 sur la maladie d'Alzheimer.
L'entreprise a également mentionné le surenregistrement de son essai AD02 sur la maladie d'Alzheimer, en se concentrant sur les patients ayant une maladie d'Alzheimer précoce avec des biomarqueurs de neuroinflammation élevés. Les données cognitives clés de cet essai de phase 2 de six mois sont attendues au deuxième trimestre 2025.
INmune Bio (NASDAQ: INMB) hat die vollständige Rückzahlung seines 15,0 Millionen Dollar schweren Terminkredits bei der Silicon Valley Bank und dem SVB Innovation Credit Fund VIII, L.P. bekannt gegeben. Der Kredit, der 2021 aufgenommen wurde, wurde am 2. Dezember 2024 vollständig zurückgezahlt, bevor das Fälligkeitsdatum am 1. Januar 2025 erreicht war. Der CFO des Unternehmens, David Moss, erklärte, dass diese Rückzahlung den vierteljährlichen Bargeldverbrauch reduzieren und die Bilanz vor den bevorstehenden Phase-2-Daten zur Alzheimer-Krankheit stärken wird.
Das Unternehmen erwähnte auch die Überanmeldung seiner AD02-Studie zur Alzheimer-Krankheit, die sich auf Frühstadium-AD-Patienten mit erhöhten Neuroinflammations-Biomarkern konzentriert. Die Ergebnisse der kognitiven Hauptdaten dieser sechsmonatigen Phase-2-Studie werden im zweiten Quartal 2025 erwartet.
- Early debt repayment strengthens balance sheet
- Reduction in quarterly cash burn due to loan repayment
- Over-enrollment achieved in Phase 2 Alzheimer's Disease trial
- None.
Insights
Boca Raton, Florida, Dec. 10, 2024 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage inflammation and immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, announced today that Company’s has paid the final installment of its 2021 Loan and Security Agreement (the “Term Loan”) with Silicon Valley Bank and SVB Innovation Credit Fund VIII, L.P. The Term Loan provided for a
Under the terms of the Term Loan, the Company was required to make interest and principal payments monthly through the maturity date of January 1, 2025. On December 2, 2024, the Company repaid the outstanding balance of the term loan in full. “We are pleased to complete repayment of our remaining obligations for this Term Loan,” said David Moss, Chief Financial Officer of of INmune Bio. “The final payment will reduce our quarterly cash burn while clearing us of all remaining debt, strengthening our balance sheet ahead of data from our Phase 2 Alzheimer’s Disease trial.”
INmune Bio recently announced over-enrollment of its AD02 Trial in Alzheimer’s Disease focused on patients with Early AD and biomarkers of elevated neuroinflammation. Top-line cognitive data from the six-month phase 2 trial is expected in Q2 2025.
About INmune Bio Inc.
INmune Bio Inc. is a publicly traded (NASDAQ: INMB), clinical-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune Bio has two product platforms that are both in clinical trials: The Dominant-Negative Tumor Necrosis Factor (DN-TNF) product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and a mechanistic driver of many diseases. DN-TNF product candidates are in clinical trials to determine if they can treat cancer (INB03™), Mild Alzheimer’s disease, Mild Cognitive Impairment and treatment-resistant depression (XPro™). The Natural Killer Cell Priming Platform includes INKmune™ developed to prime a patient’s NK cells to eliminate minimal residual disease in patients with cancer. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic and solid tumor malignancies, and chronic inflammation. To learn more, please visit www.inmunebio.com.
Forward Looking Statements
Clinical trials are in early stages and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. INB03™, XPro1595 (XPro™), and INKmune™ are still in clinical trials or preparing to start clinical trials and have not been approved by the US Food and Drug Administration (FDA) or any regulatory body and there cannot be any assurance that they will be approved by the FDA or any regulatory body or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, the Company’s Quarterly Reports on Form 10-Q and the Company’s Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
David Moss
Co-founder and Chief Financial Officer
(858) 964-3720
info@inmunebio.com
Daniel Carlson
Head of Investor Relations
(415) 509-4590
dcarlson@inmunebio.com
Investor Contact:
Mike Moyer
Managing Director – LifeSci Advisors
mmoyer@lifesciadvisors.com
FAQ
When did INmune Bio (INMB) repay its Silicon Valley Bank loan?
What was the original amount of INmune Bio's (INMB) Silicon Valley Bank Term Loan?