Company: INMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041072
Chunk: 13

Company: Inmune Bio, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 $0.3 million at March 31, 2025) and a single milestone payment of up to £6,000,000 (approximately $7.8 million
as of March 31, 2025) due on the first to occur marketing authorization to be granted by the FDA, EMA or MHRA, which had not occurred
as of March 31, 2025. At March 31, 2025 and December 31, 2024, the Company recorded $0.3 million and $0, respectively, payable to GOSH
within accounts payable and accrued liabilities in the consolidated balance sheets.

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 INKmune License Agreement, the Company was granted exclusive worldwide rights to the patents, including rights to incorporate
any improvements or additions to the patents that may be developed in the future. In consideration for the patent rights, the Company
agreed to the following milestone payments:

    (in thousands) 

    Each Phase I initiation 
    $25 
  
    Each Phase II initiation 
    $250 
  
    Each Phase III initiation 
    $350 
  
    Each NDA/EMA filing 
    $1,000 
  
    Each NDA/EMA awarded 
    $9,000 

In addition, the Company agreed to pay the licensor
a royalty of 1% of net sales during the life of each patent granted to the Company. The License is owned by Immune Ventures. RJ Tesi,
the Company’s President and a member of our Board of Directors, David Moss, its Chief Financial Officer and Treasurer and Mark Lowdell,
its Chief Scientific Officer