Company: INMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041072
Chunk: 12

Company: Inmune Bio, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 a proprietary biological molecule that inhibits soluble tumor necrosis factor. On June 10, 2021, the Company
and Xencor entered into a First Amendment to License Agreement pursuant to which, among other things, Section 3.2 of the Xencor License
Agreement was amended to change the due diligence milestones. Pursuant to the Xencor License Agreement, Xencor granted the Company an
exclusive worldwide, royalty-bearing license in licensed patent rights, licensed know-how and licensed materials (as defined in the license
agreement) to make, develop, use, sell and import any pharmaceutical product that comprises, contains, or incorporates Xencor’s
proprietary protein known as “XPro” that inhibits soluble tumor necrosis factor (or all modifications, formulations and variants
of the licensed protein that specifically bind soluble tumor necrosis factor) alone or in combination with one or more active ingredients,
in any dosage or formulation (“Licensed Products”). The Company believes the protein has numerous medical applications. Such
additional alternative applications of the technology are available under the Xencor License Agreement. 

The Company
also agreed to pay Xencor a 5% royalty on Net Sales of all Licensed Products in a given calendar year, which are payable on a country-by-
country and licensed product by licensed product basis until the date that is the later of (a) the expiration of the last to expire valid
claim covering such Licensed Product in such country or (b) ten years following the first sale to a third party of the licensed product
in such country.

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 an upfront payment of £250,000
(approximately