Chemomab Therapeutics, Scipher Medicine announce merger agreement

Chemomab Therapeutics and Scipher Medicine announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in a stock transaction. Upon completion of the merger, the combined company expects to operate as Scipher Medicine and trade on Nasdaq under the ticker symbol (SCIP). Following completion of the merger, the combined company plans to focus initially on advancing nebokitug, a clinical stage anti-CCL24 antibody, into a Phase 2 trial for the treatment of rheumatoid arthritis. In support of the merger, a syndicate of current Scipher investors led by Northpond Ventures, with participation from Khosla Ventures, Blue Owl Healthcare Opportunities, funds managed by Neuberger, and other leading investors, has committed to a new financing to Scipher, Chemomab and the combined company totaling approximately $30M in gross cash proceeds. The combined company's cash balance at closing is expected to fund company operations through H2 2028. A topline readout of the RA Phase 2 trial results is expected in H1 2028. The combined company will be named "Scipher Medicine Corporation" and will be led by CEO Reginald Seeto. Chemomab co-founder.