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Mentari Therapeutics Announces Closing of Merger with InMed Pharmaceuticals and Previously Announced $490 Million Financing

MTRI
  • Mentari Therapeutics completed its merger with InMed Pharmaceuticals, with combined shares trading on Nasdaq under the ticker "MTRI" starting November 9, 2026.
  • The company secured $490 million in gross proceeds from two private placement financings, providing operational runway into 2029 & beyond.
  • Mentari is advancing a pipeline of biologics for migraine prevention, including MT-001 & MT-002, targeting patients with suboptimal responses to existing anti-CGRP therapies.
  • MT-001 is a PACAP-targeting monoclonal antibody currently in Phase 1 trials, with initial data expected mid-2027.
  • MT-002 is a bispecific antibody targeting both PACAP & CGRP, on track for regulatory filing in Q1 2027 & initial data release by year-end 2027.
  • Todd Shegog was appointed to the Board of Directors to serve as Chair of the Audit Committee.
  • Approximately 58.3 million shares of common stock & equivalents are outstanding following the merger, reverse stock split, & financings.
  • The combined company operates as Mentari Therapeutics, Inc., based in Waltham, Massachusetts, with programs discovered by Paragon.