Company: INMB
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001213900-25-104141
Chunk: 16

Company: Inmune Bio, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 below its carrying value. Following a quantitative impairment assessment, the Company estimated the asset’s fair value
at $0, resulting in a recorded impairment of $16,514,000 during the second quarter of 2025.

CORDStrom License Agreement 

On February 6, 2025, the Company and Great Ormond
Street Hospital for Children NHS Foundation Trust (“GOSH”) entered into a license agreement for the exclusive commercial use
to clinical trial data associated with a GOSH study investigating the potential of CORDStrom to treat RDEB in pediatric patients (the
“MissionEB study”). The Company owns the intellectual property covering CORDStrom, the investigational medicinal product used
in the Mission EB study. In addition, the Company owns intellectual property and maintains trade secret protections covering the manufacturing
of CORDStrom. With this license to the clinical trial data, the Company intends to prepare applications seeking marketing authorization
of CORDStrom for treatment of pediatric RDEB in each of the FDA, EMA, and MHRA. Terms of the license agreement include a milestone payment
of up to £6,000,000 (approximately $8.1 million as of September 30, 2025) due on the first to occur marketing authorization to be
granted by the FDA, EMA or MHRA, which had not occurred as of September 30, 2025. The Company was also required to make an upfront payment
to GOSH of approximately $0.3 million, which the Company paid during July 2025 and recorded in research and development expense.

Pursuant to the GOSH license agreement, the Company
has an obligation to provide CORDStrom to the MissionEB study at no cost. While Part 1 of the study is completed, Part 2 of the MissionEB
study is currently uninitiated due to a lack of funding by the National Health Services England (“NHSE”). It is unknown whether
funding for the study will be allocated by NHSE or its successor agency in the United Kingdom. The Company has not recorded an estimated
obligation for the supply of the MissionEB trial with CORDStrom as it is unknown if the MissionEB trial will resume.

INKmune License Agreement

On October 29, 2015, the Company entered into
an exclusive license agreement (the “INKmune License Agreement”) with Immune Ventures, LLC (“Immune Ventures”).
Pursuant to the INK