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BOSTON/SAN DIEGO - Ikena Oncology, Inc. (NASDAQ:IKNA) and Inmagene Biopharmaceuticals announced Wednesday the appointment of Kristin Yarema, Ph.D. as Chief Executive Officer of ImageneBio, the company that will result from their pending merger.
The merger, approved by Ikena shareholders on July 15, is expected to close by the end of July 2025 alongside a $75 million private placement. The combined entity will trade on Nasdaq under the ticker symbol "IMA."
Yarema most recently served as CEO of Poseida Therapeutics until its acquisition by Roche in January 2025. Her previous roles include President of Cell Therapy at Poseida, Chief Commercial Officer at Atara Biotherapeutics, and various senior leadership positions at Amgen and Novartis. While Ikena’s stock has faced challenges with a 26% decline over the past year, InvestingPro analysis shows the company maintains a FAIR overall Financial Health score, suggesting stability amid market volatility.
"Joining Imagene at this key juncture point for the company is incredibly exciting," said Yarema. "We have a tremendous opportunity ahead of us in autoimmune and inflammatory diseases as we continue to develop our anti-OX40 IMG-007 therapeutic candidate."
IMG-007, the company’s lead asset, is a humanized monoclonal antibody targeting OX40 that recently completed Phase 2a clinical trials in atopic dermatitis and alopecia areata. The subcutaneous formulation has demonstrated a 34.7-day half-life at anticipated therapeutic doses, which could allow for infrequent dosing.
David Bonita, an Ikena director who will continue on the board of the combined company, said Yarema’s experience as a public company CEO and commercial leader would be valuable additions to the team.
Yarema holds a Ph.D. in Chemical Engineering from the University of California, Berkeley, and serves on the boards of the Celiac Disease Foundation and the Alliance for Regenerative Medicine.
The information in this article is based on a press release statement from the companies. Investors seeking deeper insights can access additional InvestingPro Tips, including detailed analysis of the company’s profitability metrics and growth potential. The platform offers 6 more exclusive Tips for IKNA.
In other recent news, Ikena Oncology, Inc. announced that its shareholders have approved the merger with Inmagene Biopharmaceuticals. This merger is expected to be finalized by the end of July, after which the newly combined entity will be named ImageneBio, Inc. and will trade on the Nasdaq Capital Market under the ticker symbol "IMA." Additionally, Ikena’s shareholders have approved a reverse stock split as part of the proposals at the annual meeting. In related developments, Ikena Oncology amended its executive agreement with Dr. Jotin Marango, effective July 15, 2025. The amendment specifies that if Dr. Marango’s employment is terminated without cause or if he resigns during the designated change in control period, his time-based stock options and other equity awards will fully vest and become exercisable. This change in control period began on March 18, 2025, and will conclude twelve months after the merger’s effective time. These developments mark significant changes for Ikena Oncology as it moves forward with its strategic plans.
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