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INmune Bio to raise $20M from Lincoln Park to fund drug pipeline

INmune Bio Inc. received an investment commitment from Chicago-based institutional investor Lincoln Park Capital Fund LLC, which has agreed to buy $20 million worth of the company's shares over a 24-month period, including an initial investment of $300,000.

INmune Bio, a clinical-stage biotechnology company focused on developing medicines for cancer, will use the proceeds for the development of its drug candidates into phase 2 clinical studies. Amount raised through the sale of shares to Lincoln Park will also support expenses related to general corporate purposes.