Inmagene Exercises Option to Obtain Exclusive Worldwide License for IMG-007 and IMG-004 from HUTCHMED

Rhea-AI Summary

Inmagene Biopharmaceuticals exercised its option to obtain an exclusive, royalty-bearing license for IMG-007, an anti-OX40 monoclonal antibody (mAb) and IMG-004, a Bruton Tyrosine Kinase (BTK) inhibitor. Inmagene retains rights to develop and commercialize both assets worldwide. The collaboration with HUTCHMED has allowed Inmagene to take these assets from pre-clinical to clinical development. IMG-007 is being evaluated in Phase 2a studies in two indications, while IMG-004 is being evaluated in a Phase 1 multiple ascending dose (MAD) study.

Medical Research Analyst

The decision by Inmagene Biopharmaceuticals to exercise its option for an exclusive license on IMG-007 and IMG-004 represents a strategic move in the biotechnology sector, particularly in the immunology and inflammatory disease space. The anti-OX40 monoclonal antibody (mAb) and the Bruton Tyrosine Kinase (BTK) inhibitor are both potential treatments for diseases with high unmet medical needs, such as atopic dermatitis and alopecia areata. The progression of these drug candidates from pre-clinical to clinical development stages and the potential to reach commercialization, could significantly impact Inmagene's valuation and revenue streams in the future.

From a research perspective, the efficacy and safety profiles of these drugs in their respective trials will be pivotal. IMG-007's role in modulating the immune system by targeting the OX40 receptor, which can stimulate T-cells, may offer new pathways for treating atopic dermatitis and alopecia areata, conditions often marked by excessive immune responses. Meanwhile, IMG-004's mechanism as a BTK inhibitor could provide a new oral treatment option for patients, which is particularly notable as many current treatments are injectable. The success of these Phase 2a and Phase 1 studies will determine the potential market penetration and patient impact of these therapies.

Market Research Analyst

From a market perspective, Inmagene's move to obtain exclusive worldwide rights for these drug candidates indicates confidence in their market potential. The global market for treatments of immunological and inflammatory diseases is substantial and growing, driven by increased prevalence and demand for novel therapies. Inmagene's positioning in this space, particularly if either IMG-007 or IMG-004 reach market approval, could disrupt existing market dynamics and provide competitive advantages. The ability to sublicense also opens up possibilities for collaboration and additional revenue generation through partnerships.

Furthermore, the success of these drug candidates in clinical trials could attract investor attention and lead to stock market revaluation. It is important to monitor the clinical trial outcomes, regulatory approvals and the company's capacity to manufacture and distribute these treatments effectively. The long-term impact on Inmagene's business will depend on these factors, as well as on the competitive landscape, including the emergence of alternative therapies and the pricing strategies adopted by Inmagene and its competitors.

Financial Analyst

Analyzing the financial implications of Inmagene's licensing deal requires an understanding of the costs associated with advancing IMG-007 and IMG-004 through clinical trials and the potential revenue from successful commercialization. Licensing deals often involve upfront payments, milestone payments and royalty arrangements, which can have significant impacts on a company's cash flow and profitability. The ability to sublicense can mitigate some of the financial risk and provide upfront capital, which is crucial for a clinical-stage company like Inmagene.

Investors should consider the potential return on investment from these assets, given the high costs of drug development and the risks of clinical trial failure. The successful development of IMG-007 and IMG-004 could lead to substantial long-term revenue, particularly if they become best-in-class therapies in their categories. However, the inherent risks of drug development mean that these financial benefits are not guaranteed. The timing of the news, coinciding with ongoing clinical studies, suggests that Inmagene is confident in the preliminary data and is willing to invest further in these assets.

• Inmagene exercised its option under the previously announced collaboration agreement to obtain an exclusive, royalty-bearing license for IMG-007, an anti-OX40 monoclonal antibody (mAb) and IMG-004, a Bruton Tyrosine Kinase (BTK) inhibitor
• Inmagene retains rights to develop and commercialize both assets worldwide

SAN DIEGO, Feb. 2, 2024 /PRNewswire/ -- Inmagene Biopharmaceuticals ("Inmagene" or the "Company"), a clinical stage biotechnology company developing innovative and differentiated therapies for immunological and inflammatory (I&I) diseases, today announced that it exercised the option to obtain an exclusive, worldwide and royalty-bearing license for IMG-007, a non-depleting humanized anti-OX40 mAb, and IMG-004, an oral non-covalent and reversible BTK inhibitor, with the right to sublicense through multiple tiers. 

The option was exercised pursuant to a collaboration between Inmagene and HUTCHMED (Nasdaq/AIM:HCM) announced in 2021 to develop and commercialize a portfolio of drug candidates for I&I diseases.

"Our strategic partnership with HUTCHMED has allowed us to take IMG-007 and IMG-004, two assets with best-in-class potential, from pre-clinical to clinical development," said Jonathan Wang, Ph.D., Chief Executive Officer of Inmagene. "Obtaining the worldwide exclusive rights is another step forward in our journey to become a global leader in novel drug development for I&I diseases."

IMG-007 is being evaluated in Phase 2a studies in two indications: moderate-to-severe atopic dermatitis and alopecia areata. IMG-004 is being evaluated in a Phase 1 multiple ascending dose (MAD) study.

About Inmagene

Inmagene is a global clinical-stage biotechnology company developing novel therapeutics for I&I diseases. The company's highly differentiated clinical-stage pipeline has multiple candidates with best-in-class potential. The lead asset IMG-007, a non-depleting anti-OX40 mAb, is in two global Phase 2a clinical trials in atopic dermatitis and alopecia areata. IMG-004, a non-covalent reversible BTK inhibitor is in a Phase 1 multiple ascending dose (MAD) study. IMG-008, an in-house developed long-acting anti-IL-36R mAb is entering global Phase 1 clinical development.

For more information, please visit www.inmagenebio.com.

About IMG-007

IMG-007 is a humanized anti-OX40 IgG1 mAb, with an elongated half-life and silenced ADCC function. OX40-OX40L axis is important in T cell activation, expansion, and survival, thereby having an important role in the pathogenesis of a spectrum of I&I diseases. In nonclinical studies, IMG-007 demonstrated the ability to selectively and potently block the signaling between OX40 and OX40L. Phase 1 SAD data suggests a 31-day half-life at anticipated therapeutic dose levels, enabling the potential for once every 12 weeks (Q12W) dosing, and a favorable safety profile without any pyrexia and chills, differentiating from similar molecules in development. It is being evaluated for the treatment of moderate-to-severe atopic dermatitis and alopecia areata in two Phase 2a studies.

About IMG-004

Designed specifically for inflammatory and autoimmune diseases that usually require long-term treatment, IMG-004 is a reversible, non-covalent, potent, highly selective and brain permeable oral agent. Phase 1 SAD study results suggest a long half-life and durable pharmacodynamics (PD) effect, enabling the potential for once-daily (QD) dosing. Following the ongoing Phase 1 MAD study, IMG-004 will be evaluated in chronic spontaneous urticaria (CSU) and rheumatoid arthritis (RA).

About HUTCHMED

HUTCHMED is an innovative, commercial-stage, biopharmaceutical company. It is committed to the discovery and global development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases. It has approximately 5,000 personnel across all its companies, at the center of which is a team of about 1,800 in oncology/immunology. Since inception it has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three medicines marketed in China, the first of which is also marketed in the U.S. For more information, please visit: www.hutch-med.com.

Forward-Looking Statements

This press release contains forward-looking statements. While Inmagene believes the projections to be based on reasonable assumptions, these forward-looking statements may be called into question by a number of hazards and uncertainties, so that actual results may differ materially from those anticipated in such forward-looking statements.

For further information, please contact:

Inmagene:
Anna Vardanyan, MD, PhD
Vice President of Business Development
vardanyana@inmagenebio.com

Investor Relations:
Bruce Mackle
LifeSci Advisors, LLC
bmackle@lifesciadvisors.com

View original content:https://www.prnewswire.com/news-releases/inmagene-exercises-option-to-obtain-exclusive-worldwide-license-for-img-007-and-img-004-from-hutchmed-302051787.html

SOURCE Inmagene

What assets did Inmagene obtain exclusive rights for?

Inmagene obtained exclusive rights for IMG-007, an anti-OX40 monoclonal antibody (mAb), and IMG-004, a Bruton Tyrosine Kinase (BTK) inhibitor.

What is the current phase of evaluation for IMG-007?

IMG-007 is being evaluated in Phase 2a studies in two indications: moderate-to-severe atopic dermatitis and alopecia areata.

What is the current phase of evaluation for IMG-004?

IMG-004 is being evaluated in a Phase 1 multiple ascending dose (MAD) study.

Who is the CEO of Inmagene?

Jonathan Wang, Ph.D. is the Chief Executive Officer of Inmagene.

What is the ticker symbol for HUTCHMED?

The ticker symbol for HUTCHMED is HCM.

When was the collaboration between Inmagene and HUTCHMED announced?

The collaboration between Inmagene and HUTCHMED was announced in 2021 to develop and commercialize a portfolio of drug candidates for I&I diseases.