Chemomab & Scipher Medicine to Merge; $30M Private Placement
Chemomab Therapeutics and Scipher Medicine Corporation announced a definitive merger agreement, forming a combined entity valued at $150 million before a concurrent $30 million private placement. The combined company, to be named Scipher Medicine Corporation and trade as "SCIP," will focus on advancing nebokitug, a first-in-class anti-CCL24 antibody, into a Phase 2 trial for rheumatoid arthritis, with results expected in H1 2028. The new financing is expected to provide a cash runway into H2 2028.
Key Highlights
- Chemomab Therapeutics and Scipher Medicine Corporation to merge in a stock transaction.
- Combined company valued at $150 million before concurrent private placement.
- Secured $30 million in gross cash proceeds from a private placement.
- Combined company to operate as Scipher Medicine Corporation, trading as "SCIP".
- Cash runway expected into H2 2028 following the merger.
- Focus on advancing nebokitug into a Phase 2 trial for rheumatoid arthritis.
- Phase 2 RA clinical study results expected to read out in H1 2028.
- Pre-Merger Chemomab equity holders to own approximately 32% of combined company.
Price Impact
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