Chemomab and Scipher Medicine agree merger

• Chemomab Therapeutics (NASDAQ:CMMB) and Scipher Medicine agreed to a stock-based merger that will create Scipher Medicine Corporation.
• The combined company will focus on advancing nebokitug, an anti-CCL24 antibody, into an AI-guided Phase 2 rheumatoid arthritis trial.
• The merged company is valued at approximately $150 million before a planned $30 million private placement and expects funding into the second half of 2028.

Chemomab Therapeutics (NASDAQ:CMMB) and Scipher Medicine announced a stock-based merger agreement that will create Scipher Medicine Corporation, which is expected to trade under the ticker symbol “SCIP.”

The combined company will focus its development strategy on advancing nebokitug, an investigational anti-CCL24 antibody, into an artificial intelligence-guided Phase 2 clinical trial for rheumatoid arthritis (RA).

The transaction values the combined company at approximately $150 million before a planned $30 million private placement from institutional investors.

Following the merger, the company expects to have cash resources extending into the second half of 2028, supporting clinical development activities and commercial operations.

The company plans to use Scipher Medicine’s precision medicine capabilities to support the development of nebokitug.

The Phase 2 rheumatoid arthritis trial is expected to use AI-driven patient selection approaches, with topline results anticipated in the first half of 2028.

Nebokitug targets CCL24, a signaling molecule involved in inflammatory and fibrotic disease pathways.

The therapy is being evaluated as a potential treatment approach for immune-mediated conditions.