ImageneBio Inc Dossier
Qualitative Analysis
Business overview
ImageneBio, Inc. (NASDAQ: IMA) is a clinical-stage biopharmaceutical company dedicated to developing novel therapeutics for patients suffering from immunological, autoimmune, and inflammatory diseases. The company was formed in July 2025 through the merger of Ikena Oncology, Inc. (formerly NASDAQ: IKNA) and Legacy Inmagene Biopharmaceuticals. ImageneBio's primary business centers on its flagship clinical asset, IMG-007, a next-generation, receptor-targeting, non-T cell-depleting, ADCC-silenced anti-OX40 monoclonal antibody. By specifically binding to the OX40 receptor on activated T cells, IMG-007 blocks interaction with the OX40 ligand (OX40L) to suppress chronic T cell-driven inflammatory cascades without destroying the T cells themselves, offering a potentially superior safety and tolerability profile compared to first-generation depleting agents.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Executing the Phase 2b ADAPTIVE subcutaneous dose-finding trial of lead asset IMG-007 in adults with moderate-to-severe atopic dermatitis. The trial protocol was amended to optimize dose exposures and expand clinical sites globally beyond North America.
Expected impact: Establish proof-of-concept and optimal dosing for late-stage clinical development of a potential best-in-class anti-OX40 treatment.
Advancing IMG-007 into a Phase 2 clinical trial for patients with alopecia areata, leveraging the clinical infrastructure and investigator network established during the atopic dermatitis program.
Expected impact: Broaden the therapeutic footprint of IMG-007 as a 'pipeline within a product' across immunological and inflammatory diseases.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Following the merger of Ikena Oncology and Inmagene Biopharmaceuticals, non-OX40 assets were divested to Miragene. A Transition Services Agreement was established to support operational continuity and allow ImageneBio to focus exclusively on its lead clinical program, IMG-007.
Terms: Upon the closing of the merger, the Company paid Miragene $1.25 million as a pre-payment for services during the initial six-month term. If extended beyond the initial term, services are provided at an annual FTE rate of $200,000. In October 2025, ImageneBio elected to extend the term for an additional six months for a subset of services for a fee of $0.2 million.