New York, Feb. 04, 2019 (GLOBE NEWSWIRE) — Univest Securities, LLC, a FINRA and SIPIC member full-service investment bank and securities broker-dealer firm, today announced the closing of the initial public offering (“IPO”) for its client INmune Bio, Inc (“Inmune”), the first biotech IPO in 2019. On best efforts basis, Univest sold, on behalf of Inmune, 1,020,820 shares of its common stock at of $8.00 per share for a total of $8,166,560 in gross proceeds before fees and expenses. Inmune’s common stock is expected to begin trading on The Nasdaq Capital Market (“Nasdaq”) on Monday around 10:30 EST, February 4th, 2019 under the ticker symbol “INMB”.
Univest Securities, LLC acted as the lead manager and Wallachbeth Captial, LLC and WestPark Capital, Inc. acted as co-managers for this IPO. Ortoli Rosenstadt LLP served as counsel to Univest.
A registration statement relating to this IPO was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC as of December 19, 2018. The offering of these securities is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the U.S. offering may be obtained from Univest Securities, LLC with its address at 375 Park Avenue, Unit 1502, New York, NY 10152 or by telephone at +1 212 343-8888 or by email at info@univest.us. In addition, a copy of the prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Univest Securities, LLC.
Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us
About INmune Bio Inc.
INmune Bio, Inc. is a clinical stage biotechnology company developing immunotherapies in patients’ innate immune system. It currently has two leading product candidates that both aim to reengineer the patient’s innate immune system’s response to their cancer, INKmune and INB03. INKmune is a Natural Killer (NK) cell therapeutic that primes the patient’s NK cells to attack developing disease. INB03 inhibits myeloid derived suppressor cells (MDSC) in the tumor micro-environment (TME), which often cause resistance to immunotherapy, such as anti-PD1 checkpoint inhibitors. INB03 is the first drug entered into Phase I clinical trial which aims to inhibit MDSC cells. Inmune Bio’s product platforms target residual disease and utilize a precision medicine approach for treatment of a wide variety of hematologic malignancies and solid tumors. To learn more, please visit www.inmunebio.com
Contact:
Univest Securities, LLC
Edric Guo, COO
yguo@univest.us
375 Park Avenue, 1502
New York, NY 10152
INmune Bio, Inc.
David Moss, CFO
dmoss@inmunebio.com
1224 Prospect Str. Suite 150
La Jolla, CA 92037