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Chemomab (CMMB) and Scipher plan merger with $30M financing and CVRs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Chemomab Therapeutics signed a definitive merger agreement with Scipher Medicine that will combine their businesses under a new U.S. parent company expected to trade on Nasdaq as “SCIP.” The structure includes a redomiciling of Chemomab to the U.S. and Scipher becoming a wholly owned subsidiary.

Pre‑merger Scipher securityholders are expected to own about 68% of the combined company and Chemomab holders about 32% on a fully diluted basis, before a concurrent private placement. A syndicate of existing Scipher investors has committed at least $30 million in a PIPE financing at a $150 million pre‑money valuation, with 100% warrant coverage. Chemomab holders of ADSs and vested options will also receive contingent value rights tied to milestones for nebokitug.

The combined company plans to focus on advancing nebokitug into an AI‑enabled Phase 2 rheumatoid arthritis trial using Scipher’s PrismRA test, with topline data targeted for the first half of 2028 and an expected cash runway into the second half of 2028. The merger remains subject to shareholder approvals, regulatory clearances, completion of the PIPE, tax rulings in Israel and other customary closing conditions; failure to close in certain scenarios could trigger termination fees of up to $2 million.

Positive

  • Strategic combination and pipeline focus: Chemomab will merge with Scipher to form a U.S.-domiciled precision immunology company centered on nebokitug and Scipher’s AI Network Medicine and PrismRA platforms, creating a broader business than Chemomab’s standalone fibrotic-disease focus.
  • New capital and extended runway: A concurrent private placement of at least $30 million from existing Scipher investors at a $150 million valuation, with 100% warrant coverage, is expected to support operations and the nebokitug Phase 2 RA trial with cash runway into the second half of 2028.
  • Value preservation via CVRs: Chemomab ADS and vested option holders will receive contingent value rights tied to specified milestones for nebokitug, offering potential additional economic participation in the legacy asset beyond their reduced equity stake in the combined company.
  • Clear clinical and business milestones: The combined company plans an AI-enabled Phase 2 rheumatoid arthritis study of nebokitug, with topline results targeted for the first half of 2028, alongside ongoing revenue-generating precision medicine and biopharma partnership activities at Scipher.

Negative

  • Dilution and change of control: Immediately after closing and before the PIPE, former Scipher securityholders are expected to own about 68% of the combined company on a fully diluted basis, leaving Chemomab securityholders with approximately 32% and reducing their relative influence.
  • Deal and execution risk: Closing depends on multiple conditions, including shareholder approvals, Nasdaq listing, effectiveness of a Form S-4 registration, Israeli tax rulings, completion of the PIPE and absence of material adverse effects, any of which could delay or prevent completion.
  • Termination fee obligations: If the merger agreement is terminated in specified circumstances, Chemomab could owe Scipher a cash termination fee of up to $2 million, or $500,000 if shareholder approval is not obtained at the special meeting.
  • Legacy Chemomab programs de‑emphasized: Post-merger strategy emphasizes nebokitug in rheumatoid arthritis and Scipher’s precision medicine business, while other Chemomab indications, such as primary sclerosing cholangitis, may depend on securing a partner for later-stage development.

Insights

Transformative reverse‑merger brings in RA asset, platform business and $30M financing.

The transaction effectively pivots Chemomab into a precision immunology platform by combining with Scipher Medicine and redomiciling to the U.S. Ownership tilts to Scipher holders at roughly 68% versus 32% for Chemomab on a fully diluted basis, signaling a change in control and strategic direction.

Financing is anchored by a PIPE of at least $30 million from existing Scipher investors at a $150 million valuation, with 100% warrant coverage. Together with existing cash, management expects runway into H2 2028, spanning the planned Phase 2 RA trial of nebokitug and its H1 2028 topline inflection point.

For Chemomab holders, near‑term upside centers on CVRs linked to nebokitug milestones plus residual exposure to Scipher’s revenue‑generating precision medicine and data businesses. Risks include multiple closing conditions, potential deal failure, and standard biotech execution risk in bringing nebokitug through Phase 2 and beyond.

Concurrent PIPE size $30,000,000 gross proceeds Syndicate of existing Scipher investors committing to PIPE
Combined company valuation $150,000,000 pre-money Valuation reference for concurrent PIPE Investment
Ownership split Scipher holders 68% fully diluted Expected combined company ownership before PIPE
Ownership split Chemomab holders 32% fully diluted Expected combined company ownership before PIPE
Pre-closing financing cap $10,000,000 Optional Scipher pre-closing financing counting toward PIPE minimum
Large termination fee $2,000,000 cash Payable by Chemomab in certain merger termination scenarios
Reduced termination fee $500,000 cash If shareholder approval is not obtained in specified cases
Key clinical timing H1 2028 topline data Expected readout for nebokitug Phase 2 RA trial
contingent value rights financial
"will be entitled to receive contingent value rights (“CVRs”), providing the opportunity to receive additional value"
Contingent value rights are special financial instruments that give their holder the potential to receive additional payments if certain future events or conditions happen, such as the achievement of specific business milestones. They are like a promise of extra rewards that depend on how well a project or company performs later on. Investors care about them because they offer a chance for extra gains but also carry uncertainty, as the extra payments are not guaranteed.
Domestication regulatory
"the Company will effect a domestication transaction (the “Domestication”) pursuant to which the Company will become a wholly owned"
Domestication is the legal process by which a company changes its official ‘legal home’ from one place to another without creating a new business entity, similar to moving a household’s registration from one city to another while keeping the same people and possessions. It matters to investors because it can alter which laws, tax rules, reporting standards and shareholder rights apply, potentially affecting costs, governance and the value or liquidity of the company’s shares.
Form S-4 regulatory
"the effectiveness of a registration statement on Form S-4 jointly filed by the Company and Chemomab Parent"
A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.
Statutory Waiting Period regulatory
"the lapse of at least 50 days after the filing of a merger proposal ... (the “Statutory Waiting Period”)"
non-solicitation regulatory
"The Merger Agreement contains customary non-solicitation restrictions prohibiting the Company, its subsidiaries and their respective representatives"
A non-solicitation clause is a contractual promise that one party will not actively try to lure away another party’s employees, customers, or suppliers. For investors, it signals protection of a company’s workforce and client base after a deal or partnership—reducing the risk that key staff or revenue sources will be poached and therefore helping preserve the business’s value, predictability, and post-transaction earnings. Think of it as an agreement not to knock on a neighbor’s door to take their business or team.
AI Network Medicine platform technical
"by leveraging Scipher’s AI Network Medicine platform designed to reduce risk and significantly increase the probability of clinical success"
An AI network medicine platform is a software system that uses artificial intelligence and data from many sources—such as genetic, clinical, and molecular networks—to identify connections between diseases, drugs, and biological pathways. For investors, it matters because these platforms aim to speed drug discovery, repurpose existing treatments, or improve clinical decision-making, which can change the time and cost profile of developing medical products much like a mapping tool speeds up navigation.
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FAQ

What is Chemomab Therapeutics (CMMB) announcing in this Form 6-K?

Chemomab is announcing a definitive merger agreement with Scipher Medicine. The deal will redomicile Chemomab into a new U.S. parent, combine both businesses, and create a Nasdaq‑listed company focused on nebokitug and precision medicine under the ticker “SCIP,” subject to closing conditions.

How will ownership of the combined Chemomab (CMMB) and Scipher company be split?

Immediately following the merger and before the PIPE, former Scipher securityholders are expected to own about 68% of the combined company, while Chemomab securityholders are expected to own about 32%, both on a fully diluted basis and subject to adjustments described in the merger agreement.

What new financing is tied to the Chemomab (CMMB) and Scipher merger?

Current Scipher investors committed to a concurrent private placement of at least $30 million in gross proceeds at a $150 million valuation, with 100% warrant coverage. Closing of this PIPE financing is a condition to completing the merger and helps support the combined company’s cash runway into H2 2028.

What are the contingent value rights (CVRs) for Chemomab (CMMB) shareholders?

Holders of Chemomab ADSs and vested options before domestication will receive one CVR per resulting Chemomab Parent share or option. These CVRs entitle holders to potential cash payments upon achieving specified milestones related to nebokitug, under terms set out in a separate CVR agreement.

What is the clinical plan for nebokitug after the Chemomab (CMMB) and Scipher merger?

The combined company plans an AI‑enabled Phase 2 rheumatoid arthritis trial of nebokitug using Scipher’s PrismRA test to guide patient selection. A topline readout is expected in the first half of 2028, and management anticipates available cash will fund operations through at least the second half of 2028.

What conditions must be met for the Chemomab (CMMB)–Scipher merger to close?

Key conditions include shareholder approvals, Nasdaq listing of Chemomab Parent shares, effectiveness of a Form S‑4 registration statement, completion of the $30 million PIPE, Israeli tax rulings, satisfaction of a statutory waiting period in Israel, and absence of specified material adverse effects for each company.

Are there termination fees associated with the Chemomab (CMMB) merger agreement?

Yes. If Chemomab terminates to accept a superior offer or in certain other triggers, it must pay Scipher a $2 million cash termination fee. If the merger fails due to not obtaining Chemomab shareholder approval in specified circumstances, a reduced $500,000 termination fee would be payable.


sign 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
______________________
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
 
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
 
For the month of July 2026
 
Commission File Number: 001-38807
 
CHEMOMAB THERAPEUTICS LTD.
(Translation of registrant’s name into English)
 10 Habarzel Street, Building C, 10th Floor, Tel-Aviv, Israel
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F ☒ Form 40-F ☐
 
 

Entry into Merger Agreement
 
Introduction

On July 7, 2026, Chemomab Therapeutics Ltd., an Israeli company (“Chemomab” or the “Company”), Scipher Medicine Corporation, a Delaware corporation (“Scipher”), and other parties detailed below under “Merger Agreement” entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, among other things the parties will effect a series of transactions resulting in Chemomab redomiciling into the U.S. and Scipher becoming a wholly owned subsidiary of Chemomab following such domestication, as described below in greater detail.

Merger Agreement
 
The parties to the Merger Agreement are the Company, Snowdrift Parent Corporation, a Delaware corporation (“Chemomab Parent”), Snowdrift Sub Corp., a Delaware corporation and a wholly owned subsidiary of Chemomab Parent (the “Merger Sub”), Elderwood Ltd., an Israeli company and a wholly owned subsidiary of Chemomab Parent (the “Domestication Merger Sub”), and Scipher. Pursuant to the Merger Agreement, following the merger of the Domestication Merger Sub with and into the Company, with the Company being the surviving entity and a wholly owned subsidiary of Chemomab Parent (the “Domestication Merger”), and upon satisfaction of additional closing conditions, the Merger Sub will merge with and into Scipher, with Scipher being the surviving entity (the “Surviving Corporation”) and a wholly owned subsidiary of Chemomab Parent (the “Merger”, and the time at which the Merger becomes effective, the “Effective Time”).

The Merger Agreement and the consummation of the transactions contemplated thereby, including the Merger (collectively, the “Transactions”), have been unanimously approved by each of the Company’s board of directors and Scipher’s board of directors, and the Company’s board of directors has resolved to recommend that the Company’s shareholders approve the Merger Agreement and the Transactions, including the Merger.

The Merger is expected to be completed in the fourth calendar quarter of 2026 and, if it is completed, the business of Scipher will combine with the business of the Company in Chemomab Parent (collectively, the “Combined Company”), and the parties expect the common stock of the Combined Company to be listed on the Nasdaq Capital Market under the ticker symbol “SCIP.” Following the completion of the Merger, Chemomab Parent will change its name to “Scipher Medicine Corporation” and will be led by Chief Executive Officer, Reginald Seeto. Chemomab’s co-founder and Chief Executive Officer, Adi Mor, PhD, will join the Combined Company’s board of directors. In support of the Merger, a syndicate of current Scipher investors has committed to a new financing to Scipher, Chemomab and the Combined Company for aggregate gross cash proceeds of not less than $30 million (the “Concurrent PIPE Investment”).
 
Immediately following the closing of the Merger (the “Closing”), certain former Scipher securityholders immediately before the Merger are expected to own approximately 68% of the aggregate number of outstanding securities of the Combined Company prior to the Concurrent PIPE Investment, and the securityholders of Chemomab immediately before the Domestication Merger are expected to own approximately 32% of the aggregate number of outstanding securities of the Combined Company prior to the Concurrent PIPE Investment, calculated on a fully diluted basis. In addition, holders of Chemomab’s ordinary shares represented by ADSs and vested options to acquire ordinary shares represented by ADSs will be entitled to receive contingent value rights (“CVRs”), providing the opportunity to receive additional value upon the achievement of certain specified milestones related to nebokitug, subject to the terms and conditions of the contingent value rights agreement.

Domestication

Prior to the Effective Time, the Company will effect a domestication transaction (the “Domestication”) pursuant to which the Company will become a wholly owned, direct subsidiary of Chemomab Parent. The Domestication will be effected through the Domestication Merger. As a result of the Domestication, the holders of the Company’s outstanding securities immediately prior to the Domestication Merger (including holders of Company options) will by virtue of the Domestication become security holders of Chemomab Parent in the same holding proportions as immediately prior to the Domestication.

The parties intend, for U.S. federal income tax purposes, that (i) the Merger qualifies as a reorganization under Section 368(a) of the Internal Revenue Code, as amended (the “Code”), (ii) the Domestication Merger and the Merger, taken together, qualify as a contribution governed by Section 351 of the Code, and (iii) the Merger Agreement qualifies as a “plan of reorganization” within the meaning of Treasury Regulation Section 1.368-2(g). As a condition to Closing, the Company must obtain certain tax rulings from the Israel Tax Authority relating to the Domestication, including rulings regarding the treatment of Company options and shares issued under the Company’s stock plans, and rulings for non-Israeli resident shareholders exempting Chemomab Parent, the Company and their agents from withholding obligations on consideration payable pursuant to the Domestication Merger and the CVRs.

Contingent Value Rights

Holders of the Company’s ordinary shares represented by ADSs and vested options to acquire ordinary shares represented by ADSs as of immediately prior to the Domestication will be entitled to receive one CVR for each share of Chemomab Parent common stock or vested option to acquire a share of Chemomab Parent common stock held immediately following the Domestication Merger, subject to and in accordance with the terms and conditions of a contingent value rights agreement (the “CVR Agreement”) to be entered into at or prior to the Effective Time. The CVRs represent the right to receive contingent cash payments upon the achievement of certain specified milestones related to the Company’s legacy asset, nebokitug, subject to the terms and conditions of the CVR Agreement.

The CVRs will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and will not be listed for trading on any securities exchange. The CVRs will not be transferable, except in limited circumstances as set forth in the CVR Agreement. The parties have agreed to cooperate prior to Closing, including by making changes to the form of CVR Agreement, as necessary to ensure that the CVRs are not subject to registration under the Securities Act, the Securities Exchange Act of 1934, as amended, or any applicable state securities or “blue sky” laws. The CVR Agreement must be fully executed and in full force and effect as a condition to the obligations of the Company to effect the Merger.

Concurrent PIPE Investment

Concurrently with the execution of the Merger Agreement, binding written commitments for the Concurrent PIPE Investment providing for aggregate gross proceeds of not less than $30,000,000 (the “Minimum Investment”) were obtained and are in full force and effect. The Concurrent PIPE Investment, which will reflect a Combined Company valuation of $150,000,000 and in which participating investors will receive 100% warrant coverage at 50% of the valuation at which the Concurrent PIPE Investment will be effected, is required to be consummated substantially concurrently with the Closing. The Minimum Investment must be funded entirely by investors that were investors in Scipher as of the date of the Merger Agreement (or such other date as the parties agree). The closing of the Concurrent PIPE Investment is a condition to the Closing of the Merger.

In addition, Scipher may conduct a pre-closing financing (the “Company Pre-Closing Financing”) of up to $10,000,000 in the aggregate prior to the Closing, which funding shall be available exclusively to investors that were investors in Scipher as of the date of the Merger Agreement. The aggregate gross proceeds of the Company Pre-Closing Financing, if any, shall count toward the Minimum Investment, and any such proceeds that remain unused by Scipher as of immediately prior to the Closing shall be contributed into the Concurrent PIPE Investment.
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Treatment of Scipher Equity Securities

At the Effective Time, all outstanding convertible notes (the “2026 Notes”) issued under the 2026 Convertible Note Purchase and Investment Obligation Agreement, dated as of March 5, 2026, by and among Scipher and the investors party thereto, as amended by that certain Amendment No. 1 to Convertible Note and Purchase and Investment Obligation Agreement, dated as of June 23, 2026 (the “2026 CNPA”) will be cancelled and automatically converted into shares of Chemomab Parent common stock (the “Company Merger Shares”), allocated among the holders of the 2026 Notes in accordance with the terms of the 2026 Notes, the 2026 CNPA and an allocation certificate to be delivered by Scipher to the Company prior to Closing. No fractional shares will be issued.

At the Effective Time, all outstanding notes issued under the 2025 Convertible Note Purchase Agreement (the “2025 Notes”) will be cancelled for no consideration, in accordance with the priority provisions of the 2026 CNPA.

At the Effective Time, all outstanding shares of Scipher capital stock (other than treasury shares, which will be cancelled), all outstanding and unexercised Scipher stock options, and all outstanding and unexercised Scipher warrants will be cancelled for no consideration. No holder of Scipher capital stock, Scipher stock options, or Scipher warrants will be entitled to receive any Company Merger Shares or any other consideration in connection with the Merger.

Lock-Up Agreements

Concurrently with the execution and delivery of the Merger Agreement, Dr. Adi Mor, the Company’s Chief Executive Officer and a director of the Company, executed and delivered a lock-up agreement in substantially the form attached to the Merger Agreement (the “Company Lock-Up Agreement”) as a condition and inducement to Scipher’s willingness to enter into the Merger Agreement. Similarly, certain officers, directors and stockholders of Scipher have executed and delivered lock-up agreements in substantially the form attached to the Merger Agreement (collectively, the “Scipher Lock-Up Agreements”) as a condition and inducement to the Company’s willingness to enter into the Merger Agreement. Neither the Company Lock-Up Agreement nor the Scipher Lock-Up Agreements shall apply to any officer or director who will not serve as an officer or director of Chemomab Parent or the Surviving Corporation or any of their affiliates following the Effective Time, so long as the aggregate shares of Chemomab Parent common stock beneficially owned by all such non-continuing officers and directors represent less than two and one-half percent (2.5%) of the outstanding voting stock of Chemomab Parent on a fully diluted and post-Closing basis. Both the Company Lock-Up Agreement and the Scipher Lock-Up Agreements must continue to be in full force and effect as of immediately following the Effective Time as conditions to Closing.

Voting Agreements

Concurrently with the execution and delivery of the Merger Agreement, certain officers, directors and shareholders of the Company which will hold approximately 20%  of the voting power of the Company, as of prior to the record date for Chemomab's shareholder meeting, have executed and delivered support agreements (the “Chemomab Shareholder Support Agreements”) in favor of Scipher, pursuant to which such persons have agreed, subject to the terms and conditions set forth therein, to vote all of their share capital of the Company in favor of the approval of the Merger Agreement and the Transactions and against any competing proposals.
 
Conditions to Closing

Under the terms of the Merger Agreement, the completion of the Merger is subject to certain customary closing conditions, including, among others: (i) the approval of the Merger Agreement and the Merger by the affirmative vote of a majority of the votes cast at the extraordinary general meeting of the Company’s shareholders (the “Company Special Meeting”) (the “Company Shareholder Approval”); (ii) the approval for listing on The Nasdaq Stock Market LLC (“Nasdaq”) of shares of Chemomab Parent common stock to be issued in the Merger; (iii) the effectiveness of a registration statement on Form S-4 jointly filed by the Company and Chemomab Parent registering the shares of Chemomab Parent common stock to be issued in connection with the Merger; (iv) the accuracy of the parties’ respective representations and warranties in the Merger Agreement, subject to specified materiality qualifications; (v) compliance by the parties with their respective covenants in the Merger Agreement in all material respects; (vi) the absence of any law or order restraining, enjoining, or otherwise prohibiting the consummation of the Merger; (vii) the lapse of at least 50 days after the filing of a merger proposal with the Companies Registrar of the Israeli Corporations Authority and at least 30 days after obtaining the Company Shareholder Approval (the “Statutory Waiting Period”); (viii) the closing of the Concurrent PIPE Investment; (ix) the absence of a material adverse effect (as defined in the Merger Agreement) with respect to each of the Company and Scipher on or after the date of the Merger Agreement that is continuing as of immediately prior to the Closing; and (x) the Domestication Ruling (as defined in the Merger Agreement) being obtained from the Israel Tax Authority and in full force and effect.
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In addition to the foregoing, the obligations of the Company to consummate the Merger are subject to, among other conditions: (i) the Scipher Lock-Up Agreements continuing to be in full force and effect as of immediately following the Effective Time; (ii) the termination of all stockholders agreements, voting agreements, registration rights agreements and similar agreements between Scipher and holders of Scipher capital stock; (iii) the CVR Agreement being fully executed and in full force and effect; (iv) the conversion of all outstanding 2026 Notes (including all accrued and unpaid interest thereon) into Company Merger Shares and the cancellation of all outstanding 2025 Notes for no consideration, all in accordance with the Merger Agreement; and (v) the delivery by Scipher of a pro forma capitalization table in form and substance reasonably satisfactory to the Company.

Similarly, the obligations of Scipher to consummate the Merger are subject to, among other conditions: (i) the Company Lock-Up Agreement continuing to be in full force and effect as of immediately following the Effective Time; (ii) the Company having no outstanding indebtedness as of immediately prior to the Effective Time; and (iii) the Company’s Net Cash (as defined in the Merger Agreement) being at least $0 as of immediately prior to the Closing.

Representations, Warranties & Covenants 

The Merger Agreement contains customary representations, warranties and covenants made by each of Scipher, the Company and its related entities, including, among others, covenants by the Company and Scipher regarding the conduct of their respective businesses during the pendency of the Transactions, public disclosures and other matters.

In addition, the parties have agreed to use reasonable best efforts to consummate the Transactions as promptly as reasonably practicable, including taking all actions necessary to obtain the regulatory approvals necessary to complete the Transactions, subject to certain limitations as set forth in the Merger Agreement.
 
Non-Solicitation

The Merger Agreement contains customary non-solicitation restrictions prohibiting the Company, its subsidiaries and their respective representatives from soliciting alternative acquisition proposals from third parties or providing information to or participating in discussions or negotiations with third parties regarding alternative acquisition proposals, subject to customary exceptions relating to proposals that the Company’s board of directors determines in good faith after consultation with its financial advisors and outside counsel constitutes, or would reasonably be likely to lead to, a Superior Offer (as defined in the Merger Agreement) and that the failure to take such action would be reasonably likely to violate the directors’ fiduciary duties under applicable law.
 
Termination and Termination Fees

The Company and Scipher may each terminate the Merger Agreement under certain specified circumstances, including, among others, (i) if the Merger is not consummated by March 31, 2027, (ii) if the Company Shareholder Approval is not obtained at the Company Special Meeting, and (iii) if the Company’s board of directors effects a change of recommendation with respect to the proposed transaction or the Company terminates the Merger Agreement to enter into a definitive agreement with respect to a Superior Offer. In certain circumstances in connection with the termination of the Merger Agreement, including if the Company terminates the Merger Agreement to enter into a definitive agreement with respect to a Superior Offer or if Scipher terminates the Merger Agreement following a triggering event by the Company specified in the Merger Agreement, the Company would be required to pay Scipher a termination fee of $2,000,000 in cash. Additionally, if the Merger Agreement is terminated under certain specified circumstances related to the failure to obtain Company Shareholder Approval at the Company Special Meeting, the Company would be required to pay Scipher a termination fee of $500,000 in cash.
4

 
The Company will provide to its shareholders a proxy statement describing the Merger, the Merger Agreement, procedures for voting in person or by proxy at the Company Special Meeting and various other details related to the Company Special Meeting, and will schedule, publish notice of, and convene the Company Special Meeting as soon as reasonably practicable after the date of the Merger Agreement in accordance with applicable law, the Company’s organizational documents and the Merger Agreement. If the Merger is approved at the Company Special Meeting, Israeli law mandates passage of the Statutory Waiting Period before the Merger can become effective.
 
The foregoing description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, a copy of which is attached hereto as Exhibit 2.1 and incorporated herein by reference. A copy of the Merger Agreement has been included to provide the Company’s security holders with information regarding its terms and is not intended to provide any factual information about the Company and Scipher or their respective affiliates. The representations, warranties and covenants contained in the Merger Agreement have been made solely for the purposes of the Merger Agreement and as of specific dates; were made solely for the benefit of the parties to the Merger Agreement; are not intended as statements of fact to be relied upon by the Company’s security holders, but rather as a way of allocating the risk between the parties in the event the statements therein prove to be inaccurate; have been modified or qualified by certain confidential disclosures that were made between the parties in connection with the negotiation of the Merger Agreement, which disclosures are not reflected in the Merger Agreement itself; may no longer be true as of a given date; and may apply standards of materiality in a way that is different from what may be viewed as material by Company shareholders or other security holders. Company security holders are not third-party beneficiaries under the Merger Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company and Scipher or their respective affiliates. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures. The Merger Agreement should not be read alone but should instead be read in conjunction with the other information regarding the Merger Agreement, the Merger, the Company, Chemomab Parent and Scipher or their respective affiliates and their respective businesses, that will be contained in, or incorporated by reference into, the proxy statement/prospectus that the Company and Chemomab Parent will furnish and the registration statement on Form S-4 that the Company and Chemomab Parent will jointly file, as well as in the other filings that the Company and Chemomab Parent will make, with the Securities and Exchange Commission (the “SEC”). 
 
Other Events

On July 8, 2026, the Company and Scipher issued a press release announcing the execution of the Merger Agreement. A copy of the press release is attached as Exhibit 99.1 hereto.
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Forward-Looking Statements
 
This Report on Form 6-K relates to a proposed transaction involving Scipher, Chemomab and Chemomab Parent. This Report on Form 6-K may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding the structure, timing and completion of the proposed Merger and the related transactions; the parties’ ability to consummate the proposed transaction and the private placement financing; the Combined Company’s expected listing on Nasdaq and ticker symbol after closing of the proposed Merger; expectations regarding the ownership structure of the Combined Company; the expected executive officers of the Combined Company; the expected issuance of the CVRs and the contingent payments contemplated by the CVRs; the future operations of the Combined Company; the tax implications of the Merger; the expected treatment of outstanding convertible notes previously issued by Scipher and Scipher equity securities; the anticipated valuation of the Combined Company and expected warrant coverage in connection with the private placement financing and other statements that are not historical fact. Any forward-looking statements in this release are based on management’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those set forth or implied by such forward-looking statements. There can be no assurance that future developments affecting the Combined Company will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Combined Company’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the conditions to the closing of the Merger are not satisfied, including the failure to timely obtain shareholder approval for the transaction, if at all; uncertainties as to the timing of the consummation of the Merger and the ability of each of Chemomab and Scipher to consummate the Merger; risks related to Chemomab’s ability to manage its operating expenses and its expenses associated with the Merger pending closing; risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the Merger; the risk that as a result of adjustments to the exchange ratio, Chemomab shareholders and Scipher stockholders could own more or less of the Combined Company than is currently anticipated; risks related to the market price of Chemomab’s common stock relative to the value suggested by the exchange ratio; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Merger; the uncertainties associated with Chemomab’s and Scipher’s product candidates, as well as risks associated with the clinical development and regulatory approval of such product candidates, including potential delays in the commencement, enrollment and completion of clinical trials; risks related to the inability of the Combined Company to obtain sufficient additional capital to continue to advance these product candidates and its preclinical programs; uncertainties in obtaining successful clinical results for product candidates and unexpected costs that may result therefrom; risks related to the failure to realize any value from product candidates and preclinical programs being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; risks associated with the possible failure to realize certain anticipated benefits of the Merger, including with respect to future financial and operating results; the risk that the related private placement financing is not consummated or is not consummated on the terms and in the amounts currently anticipated; the risk of potential adverse reactions or changes to relationships with employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; and those uncertainties and factors described under the heading “Risk Factors” in Chemomab’s Annual Report on Form 20-F for the year ended December 31, 2025 and Quarterly Report on Form 6-K for the quarter ended March 31, 2026, and Chemomab’s other filings from time to time with the SEC. Nothing in this Report on Form 6-K should be regarded as a representation by any person that the forward-looking statements set forth therein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Chemomab and Scipher do not undertake or accept any duty to make any updates or revisions to any forward-looking statements.

No Offer or Solicitation

This communication is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS COMMUNICATION IS TRUTHFUL OR COMPLETE. IMPORTANT ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION WILL BE FILED WITH THE SEC.
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Additional Information about the Merger and Where to Find It

This Report on Form 6-K is not a substitute for any other document that Chemomab or its affiliates (for purposes of this paragraph, “Chemomab”) may file with the SEC in connection with the proposed transaction, including the registration statement on Form S-4 (the “Form S-4”) that will contain a proxy statement and prospectus. In connection with the proposed transaction among Chemomab, Scipher, Chemomab Parent, Merger Sub and Domestication Merger Sub, Chemomab and Chemomab Parent intend to jointly file relevant materials with the SEC, including the Form S-4. CHEMOMAB URGES INVESTORS AND SHAREHOLDERS TO READ THE REGISTRATION STATEMENT, INCLUDING THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CHEMOMAB, SCIPHER, CHEMOMAB PARENT, MERGER SUB, DOMESTICATION MERGER SUB, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and shareholders will be able to obtain free copies of the Form S-4 and other documents filed by Chemomab with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. In addition, investors and shareholders should note that Chemomab communicates with investors and the public using its website (www.chemomab.com) and the investor media website (https://chemomab.com/investors-media) where anyone will be able to obtain free copies of the Form S-4 and included proxy statement/prospectus and other documents filed by Chemomab with the SEC and shareholders are urged to read the Form S-4 and included proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction. The documents filed by Chemomab with the SEC also may be obtained free of charge upon written request to: Chemomab Therapeutics Ltd., 10 Habarzel Street, Building C, 10th Floor, Tel Aviv, Israel 6971010.

Participants in the Solicitation

Chemomab, Scipher and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Chemomab’s shareholders in connection with the proposed transaction. Information about Chemomab’s directors and executive officers, including a description of their interests in Chemomab, is included in Chemomab’s most recent definitive proxy statement, as filed with the SEC on March 23, 2026. Additional information regarding these persons and their interests in the proposed transaction will be included in the Form S-4 and included proxy statement/prospectus relating to the proposed transaction when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above. Third-party products and company names mentioned herein may be the trademarks of their respective owners.
 
Incorporation by Reference
 
This Form 6-K is incorporated by reference into the Company’s Registration Statements on Form F-3 (File No. 333-275002 and 333-281750) and Form S-8 (File No. 333-259489 and No. 333-266868).
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EXHIBIT INDEX
 
Exhibit
Description
 
 
2.1
Agreement and Plan of Merger, dated as of July 7, 2026, by and among Chemomab Therapeutics Ltd., Snowdrift Parent Corporation, Snowdrift Sub Corp., Elderwood Ltd., and Scipher Medicine Corporation.
   
99.1
Joint Press Release of Chemomab Therapeutics Ltd. and Scipher Medicine Corporation, dated July 8, 2026.
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SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Date: July 8, 2026
 
 
CHEMOMAB THERAPEUTICS LTD.
 
 
 
 
By:
/s/ Sigal Fattal
 
Name:  
Sigal Fattal
 
Title:
Chief Financial Officer
 
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Exhibit 99.1

Chemomab Therapeutics and Precision Medicine Pioneer Scipher Medicine Announce Merger
Agreement to Advance Nebokitug in an AI-Powered Phase 2 Trial in Rheumatoid Arthritis

Combined company plans to advance nebokitug, a first-in-class anti-CCL24 antibody, through a
precision medicine Phase 2 trial in rheumatoid arthritis (RA) by leveraging Scipher’s AI Network
Medicine platform designed to reduce risk and significantly increase the probability of clinical success

Scipher’s AI Network Medicine platform identified CCL24 as a top-ranked therapeutic target for RA and
used its proprietary data to identify a potential therapeutic response signature intended to support the
selection of RA patients who potentially could benefit from treatment with nebokitug

Phase 2 RA clinical study expected to read out in H1 2028, providing a potential key inflection point

Combined company has multiple opportunities to create value for stakeholders, including the
development of nebokitug as potentially the first precision medicine for RA and Scipher’s revenue-
generating businesses that include biopharma partnerships using Scipher’s proprietary preclinical and
clinical de-risking platform; Scipher’s immunology data business and Scipher’s commercial precision
medicine business that includes PrismRA®, the only test approved by the Centers for Medicare and
Medicaid Services (CMS) for predicting RA treatment response

Combined company is valued at $150 million before concurrent $30 million private placement from top-
tier investors and is expected to have cash runway into H2 2028

Companies to hold conference call today July 8,2026 at 8:30 AM ET

 Tel Aviv, Israel, and Burlington, Mass. -- July 8, 2026 -- Chemomab Therapeutics (Nasdaq: CMMB) (“Chemomab”) and Scipher Medicine Corporation (“Scipher”), a leader in transforming treatment through next-generation precision medicine, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in a stock transaction (the “Merger”). Upon completion of the Merger, the combined company expects to operate as Scipher Medicine Corporation and trade on Nasdaq under the ticker symbol “SCIP”. Following completion of the Merger, the combined company plans to focus initially on advancing nebokitug, a first-in-class clinical stage anti-CCL24 antibody, into a Phase 2 trial for the treatment of rheumatoid arthritis (RA).

In support of the Merger, a syndicate of current Scipher investors led by Northpond Ventures, with participation from Khosla Ventures, Blue Owl Healthcare Opportunities, funds managed by Neuberger and other leading investors, has committed to a new financing to Scipher, Chemomab and the combined company totaling approximately $30 million in gross cash proceeds. The combined company’s cash balance at closing is expected to fund company operations through H2 2028. A topline readout of the RA Phase 2 trial results is expected in H1 2028.

The combined company will be named “Scipher Medicine Corporation” and will be led by Chief Executive Officer Dr. Reginald Seeto. Chemomab co-founder and Chief Executive Officer, Adi Mor, PhD, will join the combined company’s Board of Directors.

 Dr. Seeto commented, “As a leader in precision medicine with the first and only CMS-approved molecular signature assessing treatment response in immunology, we are thrilled to move forward with this merger with Chemomab. We believe this combination will enable us to advance nebokitug as the first precision medicine for the millions of RA patients whose disease is not well treated by current medications. Notably, there have been no new novel mechanisms approved in RA by the FDA since 2012, and no new branded FDA approvals in RA since 2019. Nebokitug, which blocks the chemokine CCL24, represents a unique dual acting mechanism in RA as it targets both inflammation and fibrosis. It has already demonstrated a favorable safety and tolerability profile and improvement in both inflammatory and fibrotic related biomarkers in a Phase 2 trial. In addition, CCL24 was independently identified as the highest-ranked clinical stage RA target for efficacy using our AI Network Medicine Platform. The proposed Phase 2 study design uses standard 12-week FDA RA endpoints and will incorporate AI-enabled precision medicine by using Scipher’s validated multi-modal, multi-omic PrismRA® test to guide patient enrollment. We are excited to apply our pioneering work in AI-powered precision medicine and our broad medical and clinical immunology expertise to the further development of nebokitug. Beyond RA, we see opportunities in multiple immunological diseases.”

“At Chemomab, we always saw nebokitug, our first-in-class CCL24-blocking, dual mechanism antibody, as potentially applicable to a wide range of inflammatory and fibrotic conditions, including rheumatoid arthritis,” said Dr. Adi Mor. “This view has been validated by Scipher’s AI precision medicine platform, which used multiple molecular signatures to identify nebokitug as the leading candidate to address a major unmet need in RA, currently a $24 billion market. We believe this merger provides our shareholders a compelling potential opportunity to realize value through the clinical advancement of nebokitug in a large indication with substantial unmet need and well-established clinical endpoints, as well as through Scipher’s revenue-generating precision medicine business and its strong biopharma partnerships. Additionally, the opportunity remains to secure a potential partner for a Phase 3 trial in primary sclerosing cholangitis, an indication with no FDA-approved therapies. We look forward to working with our colleagues at Scipher to complete the proposed transaction and expedite the initiation of the Phase 2 trial in RA, marking an exciting new phase in the development of nebokitug and our anti-CCL24 platform.”

About the Proposed Transactions
Under the terms of the merger agreement, as of the closing and immediately prior to the private placement financing, and subject to the assumptions and adjustments set forth in the merger agreement, the pre‑Merger Chemomab equity holders are expected to own approximately 32% of the combined company, and the pre-Merger Scipher equity holders are expected to own approximately 68% of the combined company, each on a fully-diluted basis and subject to adjustment. In addition, pre-Merger Chemomab shareholders are expected to receive contingent value rights, or CVRs, providing the opportunity to receive additional value upon the achievement of certain specified milestones related to nebokitug, subject to the terms and conditions of the CVR agreement. The transaction has received unanimous approval from the boards of directors of both companies and is expected to close in the fourth quarter of 2026, subject to certain closing conditions, including, among other things, approval by the shareholders or stockholders of each company, the effectiveness of a registration statement on Form S-4 to be filed with the U.S. Securities and Exchange Commission (the “SEC”) to register the securities to be issued in connection with the Merger, the redomiciling of Chemomab to the United States, and the satisfaction of other customary closing conditions. In connection with the companies’ entry into the merger agreement, Chemomab shareholders who hold approximately 20% of the voting power of Chemomab have entered into voting support agreements, pursuant to which they have agreed to vote all their share capital of Chemomab in favor of approval of the merger agreement and the transaction.

About Nebokitug
Based on the unique and pivotal role of the soluble protein CCL24 in promoting fibrosis and inflammation1, Chemomab developed nebokitug, a first-in-class monoclonal antibody that neutralizes CCL24 activity. In clinical and preclinical studies, nebokitug has been shown to have a favorable safety profile, with the potential to treat multiple severe and life-threatening immuno-fibrotic diseases 2,3,4,5,6. Chemomab has reported positive results from five clinical trials of nebokitug, including the Phase 2 SPRING trial in patients with primary sclerosing cholangitis6. This study reported positive 15-week and 48-week results, achieving the primary safety endpoint and showing improvements on a wide range of immune and fibrosis-related secondary endpoints in nebokitug-treated patients with moderate to advanced disease. Nebokitug also has shown potential in extensive preclinical studies as a treatment for the autoimmune inflammatory disease systemic sclerosis7,8, as well as in other immuno-fibrotic indications. 
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About Nebokitug and RA
The potential role of the pro-inflammatory and pro-fibrosis cytokine CCL24 in the pathology underlying rheumatoid arthritis was discovered more than 15 years ago. A peer-reviewed preclinical publication established the role of CCL24 in RA9. Recent independent publications have further confirmed this association, showing that CCL24 is upregulated in RA patients regardless of disease onset, with higher expression associated with greater disease severity and a subsequent need for advanced therapies10. In the Phase 2 SPRING trial, nebokitug down-regulated key inflammatory and fibrotic biomarkers and pathways relevant to RA, including TGF-beta, in a dose-dependent manner 11.

About PrismRA®
PrismRA® is a revolutionary blood test bringing precision medicine to the treatment of rheumatoid arthritis. It is the only precision medicine test for RA that has been accepted for reimbursement by the Centers for Medicare and Medicaid Services (CMS). Studies have shown that use of PrismRA® changes rheumatologists’ prescribing behavior and shifts the market share of the drugs they prescribe. From a routine blood draw, PrismRA® analyzes an individual’s RA-related molecular and clinical signature, helping identify the many patients who are unlikely to adequately respond to tumor necrosis factor inhibitor therapy, a mainstay of current RA treatment. These non-responders are eligible for alternative effective therapies, while avoiding unnecessary dose escalations or drug cycles with agents that are ineffective, giving them an opportunity to potentially achieve treatment targets and improve their clinical outcomes.

About Rheumatoid Arthritis
Rheumatoid arthritis (RA) is a chronic inflammatory autoimmune disorder characterized by persistent synovial inflammation and erosion of bone and cartilage, leading to joint destruction and disability. Management focuses on reducing pain and limiting disability using medical therapies that include non-steroidal anti-inflammatory drugs, non-biological and biological agents, disease-modifying anti-rheumatic drugs, immunosuppressants and corticosteroids. RA affects an estimated 1.3 million individuals in the U.S. and more than 20 million patients worldwide. Despite the commercial success of current drugs for RA, most primarily target only the inflammatory aspect of the disease and have efficacy and safety limitations. Only one-third of current RA patients achieve low disease activity, and the FDA has required the leading two mechanisms to include boxed warning safety notices in their labeling. Therapeutic innovation for RA has been low, with the last novel mechanism RA drug approved in 2012.

Conference Call Details
Chemomab and Scipher plan to hold a joint conference call on July 8, 2026 at 8:30 AM ET to discuss the Merger in more detail. To join the webcast, please register here. A replay of the webcast can be accessed following the call by visiting: https://viavid.webcasts.com/starthere.jsp?ei=1769120&tp_key=a2ed83ac1c
Validate hyperlink

About Chemomab Therapeutics
Chemomab is a clinical stage biotechnology company developing innovative therapeutics for immune- fibrotic diseases with high unmet need. Based on the unique role of the soluble protein CCL24 in promoting fibrosis and inflammation, Chemomab developed nebokitug, a first-in-class dual activity monoclonal antibody that neutralizes CCL24 and has demonstrated disease-modifying potential. In clinical and preclinical studies, nebokitug has been shown to have a favorable safety profile and has been generally well-tolerated, with the potential to treat multiple severe and life-threatening fibro-inflammatory diseases. Chemomab has reported positive results from five clinical trials of nebokitug, including the Phase 2 SPRING trial in patients with primary sclerosing cholangitis. For more information, visit: chemomab.com.
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About Scipher Medicine
Scipher Medicine is driving the probability of success at each stage of drug development from discovery to commercialization by leveraging AI with network biology and proprietary data, through its SPECTRA Rx and associated data platforms. Scipher has one of the industry’s largest RA genomic data assets and bio-banks in addition to electronic medical record data for more than 3 million rheumatology patients. It developed and markets PrismRA®, a revolutionary blood test bringing precision medicine to the treatment of rheumatoid arthritis, which affects more than 20 million patients globally. For more information, visit www.sciphermedicine.com

Advisory and Legal Counsel
Paul Hastings LLP and Goldfarb Gross Seligman & Co. are serving as legal counsel to Scipher. Meitar and Baker McKenzie are serving as legal counsel to Chemomab and Leerink Partners is serving as exclusive financial advisor to Chemomab and Oppenheimer & Co. Inc. provided a fairness opinion.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release, other than purely historical information, may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding the structure, timing and completion of the proposed Merger; the parties’ ability to consummate the proposed transaction and the private placement financing; the combined company’s cash position after closing of the proposed Merger and expected cash runway of the combined company; the combined company’s expected listing on Nasdaq and ticker symbol after closing of the proposed Merger; expectations regarding the ownership structure of the combined company; the expected executive officers of the combined company; the future operations of the combined company; the expected issuance of the CVRs and the contingent payments contemplated by the CVRs; the nature, strategy and focus of the combined company; the development and commercial potential and potential benefits of any product candidates of the combined company; anticipated clinical drug development activities and related timelines, including the expected timing for trial initiation, data and other clinical results; and other statements that are not historical fact. Any forward-looking statements in this release are based on management’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those set forth or implied by such forward-looking statements. There can be no assurance that future developments affecting the combined company will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the combined company’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the conditions to the closing of the Merger are not satisfied, including the failure to timely obtain shareholder approval for the transaction, if at all; uncertainties as to the timing of the consummation of the Merger and the ability of each of Chemomab and Scipher to consummate the Merger; risks related to Chemomab’s ability to manage its operating expenses and its expenses associated with the Merger pending closing; risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the Merger; the risk that as a result of adjustments to the exchange ratio, Chemomab shareholders and Scipher stockholders could own more or less of the combined company than is currently anticipated; risks related to the market price of Chemomab’s common stock relative to the value suggested by the exchange ratio; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Merger; the uncertainties associated with Chemomab’s and Scipher’s product candidates, as well as risks associated with the clinical development and regulatory approval of such product candidates, including potential delays in the commencement, enrollment and completion of clinical trials; risks related to the inability of the combined company to obtain sufficient additional capital to continue to advance these product candidates and its preclinical programs; uncertainties in obtaining successful clinical results for product candidates and unexpected costs that may result therefrom; risks related to the failure to realize any value from product candidates and preclinical programs being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; risks associated with the possible failure to realize certain anticipated benefits of the Merger, including with respect to future financial and operating results; the risk that the related private placement financing is not consummated or is not consummated on the terms and in the amounts currently anticipated; the risk of potential adverse reactions or changes to relationships with employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; and those uncertainties and factors described under the heading “Risk Factors” in Chemomab’s Annual Report on Form 20-F for the year ended December 31, 2025 and Quarterly Report on Form 6-K for the quarter ended March 31, 2026, and Chemomab’s other filings from time to time with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth therein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Chemomab and Scipher do not undertake or accept any duty to make any updates or revisions to any forward-looking statements.
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NO OFFER OR SOLICITATION
This communication is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.
NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS COMMUNICATION IS TRUTHFUL OR COMPLETE.

IMPORTANT ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION WILL BE FILED WITH THE SEC
This communication is not a substitute for any other document that Chemomab may file with the SEC in connection with the proposed transaction, including the registration statement on Form S-4 (the “Form S-4”) that will contain a proxy statement and prospectus. In connection with the proposed transaction between Chemomab and Scipher, Chemomab (or an affiliate) intends to file relevant materials with the SEC, including the Form S-4. Chemomab URGES INVESTORS AND SHAREHOLDERS TO READ THE REGISTRATION STATEMENT, INCLUDING THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CHEMOMAB, SCIPHER AND THE OTHER PARTIES TO THE MERGER AGREEMENT, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and shareholders will be able to obtain free copies of the Form S-4 and other documents filed by Chemomab with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. In addition, investors and stockholders should note that Chemomab communicates with investors and the public using its website (www.chemomab.com) and the investor media website (https://chemomab.com/investors-media) where anyone will be able to obtain free copies of the Form S-4 and included proxy statement/prospectus and other documents filed by Chemomab with the SEC and shareholders are urged to read the Form S-4 and included proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction. The documents filed by Chemomab with the SEC also may be obtained free of charge upon written request to: Chemomab Therapeutics Ltd., 10 Habarzel Street, Building C, 10th Floor, Tel Aviv, Israel 6971010.
5


PARTICIPANTS IN THE SOLICITATION
Chemomab, Scipher and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Chemomab’s shareholders in connection with the proposed transaction. Information about Chemomab’s directors and executive officers, including a description of their interests in Chemomab, is included in Chemomab’s most recent Annual Report on Form 20-F, as filed with the SEC on March 23, 2026 and its Form 6-K furnished to the SEC on June 2, 2026. Additional information regarding these persons and their interests in the proposed transaction will be included in the Form S-4 and included proxy statement/prospectus relating to the proposed transaction when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Third-party products and company names mentioned herein may be the trademarks of their respective owners.

Contacts:

Chemomab Therapeutics
Barbara Lindheim
Consulting Vice President, Investor & Public Relations, Strategic Communications
Phone: +1 917-355-9234
barbara.lindheim@chemomab.com
IR@chemomab.com

Scipher Medicine
Courtney Morris
ir@scipher.com

1 - Greenman R, Weston CJ. CCL24 and Fibrosis: A Narrative Review of Existing Evidence and Mechanisms. Cells. 2025
2 - Segal-Salto M, Barashi N, Katav A, et al. A blocking monoclonal antibody to CCL24 alleviates liver fibrosis and inflammation in experimental models of liver damage. JHEP Rep 2020;2(1):100064.
3 - Greenman R, Segal-Salto M, Barashi N, et al. CCL24 regulates biliary inflammation and fibrosis in primary sclerosing cholangitis. JCI Insight 2023;8(12):e162270.
4 - Mor A, Friedman S, Hashmueli S, et al. Targeting CCL24 in inflammatory and fibrotic diseases: Rationale and results from three CM-101 phase 1 studies. Drug Saf 2024;47(9):869–81.
5 - Safadi R, Lawler J, Aricha R, et al. Phase 2a study of CM-101, a CCL24 neutralizing antibody, in patients with non-alcoholic steatohepatitis: A proof-of-concept study. J Hepatol 2023;78:S119–120.
6 - Bowlus CL, Thorburn D, Barclay ST, Joshi D, Londoño MC, Mantry P, Safadi R, Aricha R, Cirillo C, Frankel M, Lawler J, Vaknin I, Mor A; SPRING Study Group. Nebokitug, an Anti-chemokine (C-C Motif) Ligand 24 Monoclonal Antibody, in Patients With Primary Sclerosing Cholangitis: A Phase 2 Study. Am J Gastroenterol. 2025 
7 - Mor A, Segal Salto M, Katav A, Barashi N, Edelshtein V, Manetti M, Levi Y, George J, Matucci-Cerinic M. Blockade of CCL24 with a monoclonal antibody ameliorates experimental dermal and pulmonary fibrosis. Ann Rheum Dis. 2019
8 - De Lorenzis E, Mor A, Ross RL, Di Donato S, Aricha R, Vaknin I, Del Galdo F. Serum CCL24 as a Biomarker of Fibrotic and Vascular Disease Severity in Systemic Sclerosis. Arthritis Care Res. 2024
9 -  Greenman R and Weston CJ. CCL24 and Fibrosis: A Narrative Review of Existing Evidence and Mechanisms. Cells. 2025 PMID: 39851534
10 - Al-Jaberi L, et al CCL24, CXCL9 and CXCL10 are increased in synovial fluid in patients with juvenile idiopathic arthritis requiring advanced treatment. Rheumatology (Oxford). 2023 PMID: 36342195
11 - Bowlus CL et al  Nebokitug, an Anti-chemokine (C-C Motif) Ligand 24 Monoclonal Antibody, in Patients With Primary Sclerosing Cholangitis: A Phase 2 Study. Am J Gastroenterol. 2025 PMID: 41257532 ;  and Snir et al CCL24 blockade alters the proteomic profile of patients with PSC and down-regulates central disease processes, EASL 2025

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Filing Exhibits & Attachments

2 documents