Immunome And Morphimmune To Combine In All-stock Transaction

(RTTNews) - Biopharmaceutical company Immunome (IMNM) and private biotechnology company Morphimmune announced Thursday that they have entered into a definitive merger agreement to combine in an all-stock transaction.

The Boards of Directors of both companies have approved the all-stock transaction. The combined company, which will operate as Immunome and retain the same ticker symbol, will be headquartered in Seattle, WA and will maintain cost-efficient research lab facilities in Exton, PA and West Lafayette, IN.

Clay Siegall, who was appointed CEO and President of Morphimmune earlier this year, will serve as the CEO, President, and Chairman of the Board of Directors of Immunome.

The companies also announced an oversubscribed private placement investment of $125 million with participation from Enavate Sciences, EcoR1 Capital, Redmile Group, Janus Henderson Investors, Avidity Partners, Woodline Partners LP, and other leading institutional investors.

In connection with the PIPE, James Boylan, Chief Executive Officer of Enavate Sciences, will be appointed to the Board of Directors of Immunome. Both the merger and private placement are expected to close by the end of fourth quarter of 2023.

The investment will be used to continue development of the lead assets in Immunome's combined pipeline, to continue to advance the company's platforms, and for general working capital purposes.

Additionally, the company will be well-positioned to explore opportunities for strategic in-licensing and further acquisitions.