InMed Pharmaceuticals Inc. (NASDAQ:INM) shares are up during Tuesday’s premarket session, as the company announced a merger agreement with Mentari Therapeutics.
The merger aims to combine Mentari’s innovative migraine prevention therapies with InMed’s public market capabilities, potentially enhancing the development of new treatments for a condition affecting over 1 billion people globally.
The merger brings together complementary pipelines, which could be a significant step forward for both companies.
INM Merger With Mentari: Migraine Therapy Catalyst
The merger with Mentari Therapeutics is set to create a combined entity focused on advancing migraine therapies, with regulatory filings for two key drug candidates expected in mid-2026 and early 2027.
The combined entity will operate as Mentari Therapeutics and trade on the Nasdaq Capital Market under a new ticker symbol.
This strategic move is supported by a concurrent private placement of $290 million, ensuring funding for operations through 2028.
Mentari Therapeutics’ programs include MT-001 with Phase 2a proof-of-concept data expected in 2028, and MT-002 with Phase 1 healthy volunteer data expected in 2027.
Together, MT-001 and MT-002 target validated, complementary, and orthogonal pathways in migraine pathophysiology and have the potential to address the significant unmet need in individuals suffering from chronic and episodic migraine.
Merger Terms
Under the terms of the merger agreement, the pre-merger InMed shareholders are expected to own approximately 1.51% of the combined company, which is expected to have a pro forma equity value of approximately $421.4 million.
The transaction has received approval by the Board of Directors of both companies and is expected to close in the second half of 2026.
INM Price Action: InMed Pharmaceuticals shares were up 120.41% at $1.50 at the time of publication on Tuesday, according to Benzinga Pro data.
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