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Investing.com -- Ikena Oncology Inc (NASDAQ:IKNA) stock rose 4.8% following the announcement of Kristin Yarema, Ph.D. as the Chief Executive Officer of ImageneBio, the company to be formed after Ikena’s anticipated merger with Inmagene Biopharmaceuticals.
The appointment comes as the merger, approved by Ikena shareholders on July 15, 2025, is expected to close by the end of July 2025. The transaction includes a concurrent committed $75 million private placement. Upon completion, the combined company will operate as "ImageneBio, Inc." and will trade on Nasdaq under the ticker symbol "IMA".
Dr. Yarema brings over 20 years of leadership experience in therapeutics to the role. She most recently served as President and CEO of Poseida Therapeutics until its acquisition by Roche in January 2025. Her background includes commercial leadership positions at Atara Biotherapeutics (NASDAQ:ATRA) and Amgen (NASDAQ:AMGN), where she led therapeutic areas including inflammation, bone health, and neuroscience.
"Joining Imagene at this key juncture point for the company is incredibly exciting. 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," said Dr. Yarema.
David Bonita, an Ikena director who will continue as a board member of the combined company, noted that Yarema’s "experience as a public company CEO and commercial leadership are valuable additions to this team."
The combined company will focus on developing IMG-007, an OX40 inhibitor targeting autoimmune and inflammatory diseases.
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