Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 25

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 25
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 or non-competitive before we can recover the expenses of developing and commercializing any of
our product candidates. We anticipate that we will face intense and increasing competition as new drugs enter the market and advanced
technologies become available. Further, the development of new treatment methods for the conditions we are targeting could render our
drugs non-competitive or obsolete.

INKmune is an immunotherapy
that harnesses the biology of NK cells for the treatment of cancer. There is a long list of immunotherapy strategies for the treatment
of cancer and the immunotherapy for cancer market is growing rapidly. There are at least three ways to classify immunotherapy for cancer.
The list below classifies immunotherapy strategies beginning with those that are most closely related to INKmune:

    1.
    Companies in the NK cell therapy business;

    2.
    Companies in the personalized immune-oncology business; and

    3.
    Companies in the precision immuno-oncology business.

15

We are not aware of any approved
treatments that are classified as NK cell therapies. We are aware of public companies in the NK cell therapy business such as Century
Therapeutics, Immunity Bio, Nkarta, Fate Therapeutics, Glycostem and others. These companies are developing products that involve replacing
or supplementing NK cells of the patient for the treatment cancer. Their products require extensive ex-vivo cell manipulations which,
with respect to Century Therapeutics and Fate Therapeutics, may include gene therapy. The next larger group of companies are in the personalized
immuno-oncology business with products focused on T cell activation strategies. The most popular are the CAR-T cell therapies which are
a patient specific ex-vivo gene therapy approach. CAR-T therapy has become wildly popular of late and includes many private companies,
public companies such as Bluebird, Juno Therapeutics and Mustang Bio as well as established companies such as Novartis and Gilead. For
many of the companies, CAR-T cell therapies is their only business. For the latter two, CAR-T cell therapies is a newly in-licensed program
with marketing authorization in the US. Finally, the precision immune-oncology category also includes companies with anti-cancer antibody
products and the newer “check-point” inhibitors. Antibody therapies are all about “illuminating” the cancer to
the innate immune system (NK cells). Monoclonal antibodies were the original immunotherapy that drove the growth of well-known bioph