India, May 19 -- Shares of InMed Pharmaceuticals, Inc. (INM) jumped 160% following news of a definitive merger agreement with privately held Mentari Therapeutics, Inc., a biotechnology company developing therapies for migraine prevention.
InMed will merge with Mentari in an all-stock transaction, combining Mentari's differentiated migraine pipeline with InMed's public market infrastructure. The combined entity will operate as Mentari Therapeutics and trade on the Nasdaq Capital Market under a new ticker symbol.
The merger is supported by a concurrent oversubscribed US$290 million private placement led by Fairmount and joined by major investors including Commodore Capital, Deep Track Capital, Janus Henderson Investors, a16z Bio + Health, V...