Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 198

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 198
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 or collaborators such that our licensors are not the sole and exclusive owners
of the patents we in-licensed. If other third parties have ownership rights to our in-licensed patents, the license granted to us for
such jointly owned patents may not be valid. Absent an agreement, each joint owner can independently sell, license, or otherwise exploit
the jointly owned patent without the approval of the other joint owner(s) and without having to account to each other for their revenues.
Without the cooperation of all joint owners, none can grant an exclusive license to a third party. Further, a jointly owned patent cannot
be enforced unless all of the owners join in the lawsuit. If a co-owner refuses to participate, the lawsuit cannot proceed. Certain of
our in-licensed patents from Xencor show joint ownership between Xencor and a third party. Xencor provided representations and warrants
as to its ability to grant the rights provided in the license. In addition, Xencor is required to indemnify us as to any breach of its
representations, warranties and covenants made in the agreement.

Further,
our rights to current or future in-licensed patents and patent applications may be dependent, in part, on inter-institutional or other
operating agreements between the joint owners of such in-licensed patents and patent applications. If one or more of such joint owners
breaches such inter-institutional or operating agreements, our rights to such in-licensed patents and patent applications may be adversely
affected. Any of these events could have a material adverse effect on our competitive position, business, financial conditions, results
of operations, and prospects.

Intellectual property discovered through
government funded programs may be subject to federal regulations such as “march-in” rights, certain reporting requirements
and a preference for U.S.-based companies. Compliance with such regulations may limit our exclusive rights and limit our ability to contract
with non-U.S. manufacturers.

Certain
in-licensed patents (i.e. those from the University of Pittsburgh) were supported through the use of U.S. government funding. Pursuant
to the Bayh-Dole Act of 1980, the U.S. government has certain rights in inventions developed with government funding. These U.S. government
rights include a non-exclusive, non-transferable, irrevocable worldwide license to use inventions for any governmental purpose. In addition,
the U.S. government has the right, under certain limited circumstances, to require us to grant exclusive, partially