Liminatus Pharma Announces Planned Phase 1 Clinical Trial of IBA101, a Next-Generation CD47 Blocking Antibody
Rhea-AI Summary
Liminatus (NASDAQ:LIMN) announced planned initiation of a Phase 1 clinical trial for IBA101, a next-generation CD47-blocking monoclonal antibody designed to engage innate immunity and complement PD-1/PD-L1 therapies.
The seamless study will begin with monotherapy dose escalation then add combination cohorts, initially focusing on lung cancer, and will include translational analyses to characterize immune activity. The company targets readiness after completing manufacturing, nonclinical, and regulatory preparations.
Positive
- Planned Phase 1 initiation for IBA101
- Seamless design: monotherapy then combination cohorts
- Lung cancer selected as initial focus
- Includes translational analyses to characterize immune activity
Negative
- No clinical efficacy data; program remains preliminary
- Advancement contingent on completing manufacturing, nonclinical, and regulatory steps
News Market Reaction – LIMN
In the Mar 17 session, LIMN declined 2.46%, reflecting a moderate negative market reaction. Argus tracked a peak move of +6.0% during that session. Argus tracked a trough of -15.7% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 17 | Equity offering | Negative | -31.9% | Dilutive $4.0M best-efforts offering priced at $0.29 per share. |
| Oct 30 | Financing MOU | Positive | -0.7% | MOU for $30M equity investment to support immuno-oncology programs. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent material financings have seen mixed reactions: a large discounted offering drew a sharp selloff, while a sizable prospective equity investment had little price impact.
Over the last six months, Liminatus focused on financing and capital structure. A $4.0M best-efforts public offering on Feb 17, 2026 at $0.29 per share led to a -31.86% one-day move, underscoring sensitivity to dilution. Earlier, on Oct 30, 2025, the company signed an MOU for a potential $30,000,000 equity investment to fund immuno-oncology R&D, with only a modest -0.7% reaction. Today’s Phase 1 trial plan shifts attention from balance-sheet actions toward clinical execution.
Key Terms
cd47 medical
monoclonal antibody medical
innate immune medical
immuno-oncology medical
pd-1/pd-l1 medical
checkpoint inhibitors medical
macrophage medical
translational analyses medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
CERRITOS, Calif., March 17, 2026 (GLOBE NEWSWIRE) -- Liminatus today announced plans to initiate a Phase 1 clinical trial evaluating IBA101, a next-generation CD47-blocking monoclonal antibody designed to engage innate immune pathways and complement established immuno-oncology therapies.
IBA101 is engineered to target the CD47 “don’t-eat-me” signal, a mechanism that enables tumor cells to evade innate immune surveillance. By enhancing macrophage-mediated tumor clearance and antigen presentation, IBA101 is designed to work alongside PD-1/PD-L1 checkpoint inhibitors, which remain the backbone of treatment across multiple solid tumor indications.
The planned Phase 1 study is designed as a seamless clinical program, beginning with monotherapy dose escalation to evaluate safety, tolerability, and pharmacokinetics, followed by combination cohorts with PD-1/PD-L1 therapies within the same protocol. This approach is intended to efficiently generate early clinical and translational insights while supporting disciplined dose selection for future development.
Lung cancer has been selected as the initial focus of the Phase 1 program, reflecting the Widespread use of PD-1/PD-L1 inhibitors in current treatment paradigms and the ongoing need to improve depth and durability of patient responses.
The trial is planned to be conducted under the leadership of Dr. Se-Hoon Lee, a recognized expert in immuno-oncology clinical research. The study will incorporate translational analyses aimed at characterizing immune activity and identifying biological features associated with clinical benefit.
The company anticipates engaging with regulatory authorities as part of its clinical development planning and is targeting readiness to advance the program following completion of required manufacturing, nonclinical, and regulatory preparation activities.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. The Company has attempted to identify forward-looking statements by terminologies including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," “target,” “aim,” “predict,” “outlook,” “seek,” “goal” “objective,” “assume,” “contemplate,” “continue,” “positioned,” “forecast,” “likely,” "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the implementation of our business plan; our ability to obtain and maintain intellectual property protections for our intellectual property; our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general economic and business conditions; and our ability to hire and maintain key personnel. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company's most recent filings with the U.S. Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contacts:
Liminatus Pharma, Inc.:
Chris Kim, CEO — info@liminatuspharma.com, (213) 273-5453
