ImageneBio Raises $30M Via Private Institutional Placement To Fund Hair Loss And Skin Disease Treatments

ImageneBio, Inc. (NASDAQ:IMA)("Imagene" or the "Company") today announced it has entered into a definitive securities purchase agreement with certain institutional investors in a private placement that is expected to result in gross proceeds of approximately $30 million to Imagene, before deducting placement agent fees and other expenses. The company intends to use the proceeds from the offering to support further development of IMG-007 in alopecia areata and late-stage development activities in atopic dermatitis.