Mentari Therapeutics to go public via reverse merger with InMed, raising $290 million for migraine antibody programs
Mentari Therapeutics, a spinout of Paragon, announced a reverse merger with InMed Pharmaceuticals that will take the company public under the Mentari name.
The deal has received board approval from both companies and is slated to close in the back half of 2026, creating a combined firm focused on antibody drugs for migraine.
A concurrent private placement will raise roughly $290 million, led by Fairmount and supported by investors including Blackstone Multi-Asset Investing, Wellington Management, a16z Bio + Health and Perceptive Advisors, giving the pro forma equity value about $421 million.
The proceeds are intended to fund development of Mentari’s two lead migraine programs, with clinical data expected by 2028.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “A migraine drugmaker heads to the public markets through reverse merger”
read at BioPharma Dive ↗
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