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

• 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
[email protected]

Investor Relations:
Bruce Mackle
LifeSci Advisors, LLC
[email protected]