Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 309

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 309
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 December 31, 2024 and 2023, the Company received $2,475,000 and $6,557,000
of R&D tax credit reimbursements, respectively, from Australia.

Xencor, Inc. License Agreement

On October
3, 2017, the Company entered into a license agreement (“Xencor License Agreement”) with Xencor, Inc. (“Xencor”),
which discovered and developed 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. 

F-11

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