ImmunoMet Therapeutics, Inc., a clinical stage biotechnology company targeting metabolism to develop novel anti-cancer and anti-fibrotic therapies, today announced the closing of a Series B-1 financing for $10M. The $10M Series B1 includes $3M in new financing and the $7M in financing closed in February.

“The new financing allows ImmunoMet to conduct a food effect study and to start preparations for our exciting Phase 2 oncology program. We plan to be in the clinic in multiple oncology indications by 4Q 2022.” commented Benjamin Cowen, President & Chief Executive Officer of ImmunoMet Therapeutics.

ImmunoMet plans to initiate a food effect study in healthy volunteers in Q1 2022. The data from this food effect study will help optimize the dosing of IM156 in upcoming Phase 2 trials.

About IM156
IM156 is a Protein Complex 1 (PC1) inhibitor that targets the oxidative phosphorylation (OXPHOS) pathway, decreasing the supply of energy and anabolic precursors that are required to drive tumor growth and fibrotic disease. IM156, ImmunoMet’s lead drug candidate, is solely owned by ImmunoMet and is currently in development for the treatment of selected cancers and fibrosis.

About ImmunoMet Therapeutics
ImmunoMet is a clinical stage biotechnology company targeting metabolism for the treatment of cancer and fibrotic diseases. ImmunoMet’s lead molecule, IM156, is a PC1 inhibitor and is the first potent PC1 inhibitor to complete Phase 1 with good tolerability. In addition to IM156, ImmunoMet owns a large library of biguanides with the potential for development, internally or with partners, for multiple indications. The company was founded in 2015, is headquartered in JLABS @ TMC in Houston. For more information about the company, please visit www.immunomet.com.

Forward-Looking Statements
This press release contains “forward-looking statements” concerning the development of ImmunoMet products, the potential benefits and attributes of those products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. ImmunoMet undertakes no obligation to update any forward-looking statements for any reason.

Company Contact:
Benjamin Cowen, PhD, MBA
President and CEO 
ImmunoMet Therapeutics
bcowen@immunomet.com