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SAN DIEGO, Aug. 05, 2026 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA) ("Imagene" or the "Company") today reported financial results for the quarter ended June 30, 2026, and provided a company update. Company Highlights Olevaprubart, also known as IMG-007, the potential first-in-class therapeutic targeting the OX40 pathway, is a non-T cell-depleting, ADCC-silenced, anti-OX40 receptor antagonist with an extended half-life. Imagene strengthened its leadership team with the appointments of Yanina Grant-Huerta as Chief Financial Officer and Matt Robbins as General Counsel. $136.2 million in cash, cash equivalents and marketable securities as of June 30, 2026, providing anticipated funding for planned operations into the first quarter of 2028. "Imagene’s olevaprubart is now primed to emerge as the leading OX40 signal blockade program. With our continued progress in advanced clinical development, our conviction remains strong," said Kristin Yarema, Ph.D., chief executive officer of Imagene. "Olevaprubart was engineered to be a genuinely differentiated medicine with the potential for strong, competitive efficacy and a favorable safety profile. This is what our Phase 2b ADAPTIVE study is designed to evaluate and we are very pleased with our progress. Atopic dermatitis and alopecia areata remain areas of significant unmet need, and, as we are following every new development in the field closely, none of it changes what we believe: that direct, T cell-targeted yet non-T cell depleting approaches like ours have the potential to provide durable, safe and strong benefit for patients. Our programs remain on track and we continue to advance as planned, including welcoming patients who have completed a year of treatment into our long-term extension study." Recent Corporate Updates In April 2026, Imagene closed a $30 million private placement with participation from both new and current investors. In July 2026, Imagene appointed Yanina Grant-Huerta as Chief Financial Officer. Imagene also appointed Matt Robbins as General Counsel, bringing more than 15 years of corporate, securities, and transactional experience advising public and private life sciences companies. Dr. Ben Porter-Brown transitioned to a consulting role at the end of July 2026, continuing to support the Company as a consulting clinical development expert and strategic advisor. Olevaprubart Program Updates Atopic Dermatitis: The previously announced protocol amendment to the ADAPTIVE trial has been implemented, and the study continues to progress under the amended protocol. Alopecia Areata: Imagene remains on track to initiate a Phase 2 study of olevaprubart in alopecia areata in 2026. Upcoming Scientific Presentations: Imagene will present two posters at the 2026 European Academy of Dermatology and Venereology (EADV) Congress: Title: IMG-007, a non-depleting OX40 mAb, produces durable shift in TCR repertoire and T cell function: Early biomarker insights from a Phase 1b/2a trial in immune-mediated alopecias Second Quarter 2026 Financial Highlights Cash Position: Following a $30 million PIPE financing completed in April 2026, the Company ended June 30, 2026 with $136.2 million in cash, cash equivalents and marketable securities. The Company expects that such resources will be sufficient to fund planned operations into the first quarter of 2028. Research and Development (R&D) Expenses: R&D expenses were $6.7 million for the three months ended June 30, 2026, compared to $5.7 million for the same period in 2025. The Company continues to invest in clinical trial and personnel-related expenses associated with its primary development program. General and Administrative (G&A) Expenses: G&A expenses were $5.1 million for the three months ended June 30, 2026, compared to $1.7 million for the same period in 2025. Net Loss: Net loss was $10.2 million, or $0.63 loss per share, for the three months ended June 30, 2026, compared to a net loss of $10.7 million, or $4.46 per share, for the same period in 2025. About Olevaprubart (formerly IMG-007) Olevaprubart (formerly IMG-007) is an investigational, non-T cell-depleting monoclonal antibody targeting OX40, a receptor protein primarily found on activated human T cells. When OX40 binds its ligand OX40L in human tissue, the signal generated plays a key role in the activation, expansion, and survival of many subtypes of T cells. Targeted inhibition of OX40 is being studied in the clinic across a range of autoimmune, inflammatory and immunological conditions where aberrant signaling of one or more T cell subtypes is believed to drive disease. Olevaprubart has been engineered to include a silenced antibody-dependent cell-mediated cytotoxicity function demonstrated to avoid T cell depletion or killing and intended to minimize safety risk. This technology also resulted in an approximately 5-week half-life, prolonging therapeutic activity with the aim of maximizing time between doses for a patient. About ImageneBio, Inc. Imagene is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune and inflammatory diseases with differentiated clinical profiles. The Company's program, olevaprubart (formerly IMG-007), is a receptor targeting, nondepleting anti-OX40 monoclonal antibody with multiple differentiating features. Imagene has completed Phase 1b/2a clinical trials of olevaprubart in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of olevaprubart in patients with moderate-to-severe atopic dermatitis. For more information, please visit www.imagenebio.com. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the expected timing, progress and results of the Company's ongoing Phase 2b ADAPTIVE trial; the anticipated benefits and potential impact of the amended ADAPTIVE trial protocol; the expected timing of initiation of the Company's Phase 2 alopecia areata trial and the timing of initial clinical data; the therapeutic potential, safety profile and clinical differentiation of olevaprubart; the Company's plans to advance the development of olevaprubart across multiple inflammatory and autoimmune indications; the Company's planned scientific presentations and anticipated dissemination of clinical data; the Company's expected cash resources, capital requirements and financing plans; and other statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future. Words such as "will," "can," "expect," "may," "plan," "potential," "goal," or other words that convey uncertainty of future events or outcomes are used to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: risks associated with the nonclinical and clinical development and regulatory approval of olevaprubart, including potential delays in the completion of clinical trials and potential safety and other complications thereof; the timing of the availability of data from the Company's clinical trials; the risk that competitor data may materially and adversely impact the Company, its business, and its future prospects; the clinical utility, potential differentiation and/or benefits and market acceptance of olevaprubart; the requirement for additional capital to continue to advance the olevaprubart program, which may not be available on favorable terms or at all; the Company's ability to attract, hire, and retain skilled executive officers and employees; the Company's ability to protect its intellectual property and proprietary technologies; the Company's reliance on third parties, contract manufacturers, and contract research organizations; the possibility that the Company may be adversely affected by other economic, political, business, or competitive factors; and risks associated with changes in applicable laws or regulations or government resources and policies. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in the Company's filings with the Securities and Exchange Commission (the SEC), including the risks set forth under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, and our subsequent Quarterly Reports on Form 10-Q, filed with the SEC, and in our other filings with the SEC. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Contacts Investor Contact:Rebecca [email protected] Media Contact:Jason Braco, PhDValence [email protected]

SAN DIEGO, May 07, 2026 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA) ("Imagene" or the "Company") today reported financial results for the quarter ended March 31, 2026, and provided an update for its lead program, IMG-007, a non-T cell-depleting, ADCC-silenced anti-OX40 receptor antagonist with an extended half-life. Company Highlights In April 2026, the Company completed a private placement for gross proceeds of approximately $30 million led by new investor, Coastlands Capital, with participation from Trails Edge Capital Partners and existing investors Omega Funds and OrbiMed, among others. The financing extends the Company's cash runway into the first quarter of 2028 and enables advancement of IMG-007 into a Phase 2 clinical trial in alopecia areata. IMG-007 is the leading receptor-targeting, non-T cell-depleting OX40 antagonist in active clinical development. The Phase 2b ADAPTIVE trial is progressing under the previously announced amended protocol in North America, with topline data anticipated in the fourth quarter of 2027. The Company will present preclinical data on IMG-007 at the 83rd Annual Society for Investigative Dermatology (SID) Meeting in May 2026 in Chicago, IL. The oral presentation will characterize how IMG-007’s distinctive design, which targets the OX40 receptor for efficacy while not depleting a patient’s T cells for safety, distinguishes it from other agents in the OX40 class. "The conviction that brought our investors to this round reflects a fundamental belief that we share: OX40 is an important target with the potential to effectively treat heterogeneous and difficult diseases like atopic dermatitis and alopecia areata in a new way that is focused on T cell biology rather than simply blocking downstream cytokines, and that IMG-007 is the right molecule to showcase what the mechanism can deliver," said Kristin Yarema, PhD, Chief Executive Officer of Imagene. "With our $30 million financing in place and cash runway extending into Q1 2028, we have the resources to drive these programs forward. We believe the disease-modifying potential of OX40 blockade is beginning to be shown in this evolving field, and we further believe that IMG-007 will ultimately demonstrate a powerful ability to bring patients into deep and durable disease control with infrequent dosing.” IMG-007 Program Updates Atopic Dermatitis The previously announced protocol amendment to the ADAPTIVE trial has been implemented, and the study is now progressing under the amended protocol in North America. The amendment introduces a robust design intended to fully evaluate the potential of IMG-007 in moderate-to-severe AD, including the time to onset, depth, and durability of response. The updated protocol systematically explores three variables — exposure, loading regimen, and dosing interval — across an approximately 400-patient study with continuous treatment over one year: Exposure: The amended protocol expands to four IMG-007 dosing regimens plus placebo, evaluating two different doses at each of two dosing intervals. The expanded exposure range is designed to test the hypothesis that broader exposures can deliver better efficacy than has been demonstrated to date in the OX40 class. ADAPTIVE will also be the first OX40 program to evaluate continuous exposure of up to one year in a Phase 2b setting, enabling a systematic assessment of the deepening of response that has been attributed to OX40 blockade. Loading regimen: Reflecting the recognized and growing importance of loading in immunologic and inflammatory diseases — and particularly relevant for the OX40 class given its upstream targeting of activated T cells — the amended protocol systematically studies the contribution of a loading dose regimen to the speed, depth, and consistency of clinical effect. Dosing interval: The four dosing regimens evaluate monthly and quarterly dosing intervals, supported by IMG-007's approximately 5-week half-life. Less frequent dosing is intended to reduce treatment burden for patients managing a chronic disease. The primary endpoint under the amended protocol is percent change from baseline in EASI at 24 weeks. Secondary endpoints include patients reaching EASI-75, EASI-90, and IGA 0/1, along with safety, pharmacokinetics, and additional clinical and patient-reported outcomes. The amended protocol also incorporates additional study refinements, including stratification of biologic- and/or oral JAK inhibitor-experienced versus naive patients, baseline EASI scores, standardized photography, and a refined approach to rescue therapy. The efficacy dataset will be composed of patients initiated under the amended protocol and is designed to enable a registrational Phase 3 program. Patients currently enrolled under the original ADAPTIVE protocol will continue as planned, providing safety data to contribute to the safety database and support pharmacokinetic and pharmacodynamic profiling of IMG-007. Across all IMG-007 clinical studies to date, IMG-007 has shown an encouraging early safety and tolerability profile. As of the blinded safety review in March 2026, there had been no cases of Kaposi sarcoma, no malignancies, and no severe infections. No treatment-related serious adverse events had been reported, and no treatment-related pyrexia, chills, aphthous ulcers, or gastrointestinal ulcers had been observed. Injection site reactions had been reported in less than 0.10% of subjects. The ADAPTIVE protocol includes clinical monitoring and risk mitigation measures specific to Kaposi sarcoma, including patient and physician education and close longitudinal tracking, in the interest of patient safety. Topline data from the study is anticipated in the fourth quarter of 2027. Upcoming Scientific Presentation Imagene will deliver an oral presentation of preclinical data at the 83rd Annual Society for Investigative Dermatology (SID) Meeting in May 2026 in Chicago, IL. The presentation includes preclinical data that demonstrate IMG-007 combines high-affinity OX40 binding with potent inhibition of downstream signaling, supporting a differentiated non-depleting mechanism for modulating pathogenic T cell responses. Title: Preclinical characterization of IMG-007, a high-affinity, non-depleting anti-OX40 monoclonal antibody for the treatment of inflammatory and autoimmune disease Session: Translational Studies, Preclinical Date: Friday, May 15, 2026 Time: 9:35 AM – 9:45 AM (Continental Ballroom C, Lobby Level) Alopecia Areata (AA) The Company plans to initiate a Phase 2 study of IMG-007 in alopecia areata (AA) in 2026, with initial data expected in 2028, leveraging the clinical operations and investigator network the Company has developed through its AD program. In a completed open-label proof-of-concept study, IMG-007 demonstrated a mean SALT 30 improvement of 30% out to 36 weeks after just three 600 mg IV doses given within the first month of the study in patients with baseline SALT 50 to < 95. "We are entering a period of real clinical momentum," said Dr. Ben Porter-Brown, Chief Medical Officer of Imagene. "ADAPTIVE is advancing under the amended protocol, and we are now moving IMG-007 into a second indication with proof-of-concept data providing a strong foundation. AA is a disease with significant unmet need. JAK inhibitors, the only approved targeted option, are indicated only for severe disease and require at least daily dosing to maintain hair regrowth, and there are no approved biologics for AA. Approximately 1 in 50 people will develop AA over their lifetimes. IMG-007 is the first OX40 antagonist to report clinical data in AA, and that early data and its mechanism support further clinical development, with the potential for durable responses with a low dosing burden. . In both AA and AD, IMG-007 could provide patients with a therapeutic that stands apart from existing options.” First Quarter2026 Financial Results Cash Position: As of March 31, 2026, the Company had cash, cash equivalents, and marketable securities of $117.2 million. Additionally, in April 2026, the Company completed a private placement for gross proceeds of approximately $30 million, issuing all pre-funded warrants led by Coastlands Capital with participation from additional new and existing investors. Research and Development (R&D) Expenses: R&D expenses for the three months ended March 31, 2026 were $6.0 million as compared to $4.0 million for the three months ended March 31, 2025. The company continues to invest in clinical trial and personnel related expenses associated with its primary development program. General and administrative (G&A) Expenses: G&A expenses for the three months ended March 31, 2026 were $6.1 million as compared to $2.8 million for the three months ended March 31, 2025. Net Loss: Net loss for the three months ended March 31, 2026 was $ 10.6 million as compared to $ 9.1 million for the same period in 2025. About IMG-007 IMG-007 is an investigational, non-T cell-depleting monoclonal antibody targeting OX40, a receptor protein primarily found on activated human T cells. When OX40 binds its ligand OX40L in human tissue, the signal generated plays a key role in the activation, expansion, and survival for many subtypes of T cells. Targeted inhibition of OX40 is being studied in the clinic across a range of autoimmune, inflammatory and immunological conditions where aberrant signaling of one or more T cell subtypes is believed to drive disease. IMG-007 has been engineered to include a silenced antibody-dependent cell-mediated cytotoxicity function demonstrated to avoid T cell depletion or killing and intended to minimize safety risk. This technology also resulted in an approximately 5-week half-life, prolonging therapeutic activity with the aim of maximizing time between doses for a patient. In proof-of-concept studies in patients with moderate-to-severe atopic dermatitis and severe alopecia areata, IMG-007 exhibited sustained clinical and pharmacodynamic activity and was well tolerated. IMG-007 was originally discovered by HUTCHMED and Imagene has worldwide commercialization rights. Clinical development is ongoing: additional information about the ongoing Phase 2b trial in moderate-to-severe atopic dermatitis is available at www.clinicaltrials.gov using identifier: NCT07037901. About IMG-007 ADAPTIVE Trial The ADAPTIVE trial (NCT07037901) is an ongoing Phase 2b, randomized, placebo-controlled dose ranging study designed to evaluate the efficacy and safety of various dose regimens of IMG-007 in adults with moderate-to-severe AD, recruiting both biologic- and/or JAK inhibitor-experienced and naive patients. About Atopic Dermatitis Atopic dermatitis (AD) is a chronic, relapsing inflammatory skin disease characterized by intense itch, recurrent eczematous lesions, and significant impacts on sleep, mental health, and quality of life. AD affects approximately 26 million people in the United States and 237 million people globally, with approximately 6.8 million adults in the United States and 49 million people worldwide living with moderate-to-severe disease. Despite the availability of advanced therapies including biologics and JAK inhibitors, 30–40% of patients on these treatments continue to report inadequate disease control, and only approximately 15% of biologic-eligible patients are receiving treatment. Existing options also impose meaningful treatment burden, requiring daily or bi-weekly dosing over what is often a lifetime of disease management. Substantial unmet need remains for therapies that deliver deeper and more durable disease control with dosing schedules patients can sustain. About Alopecia Areata Alopecia areata (AA) is a chronic autoimmune disease in which T cell–mediated attack on the hair follicle, resulting from loss of immune-protection of the follicle, causes hair loss across the scalp, face, and body. The disease can affect people of all ages, ethnicities, and races, and approximately 1 in 50 people will develop AA over their lifetimes. Beyond its visible physical impact, AA carries a significant psychosocial and emotional burden, often persisting for years and recurring unpredictably. JAK inhibitors are the only approved targeted treatment for AA and are indicated only for severe disease. They require at least daily oral dosing with sustained adherence to maintain hair regrowth and carry a boxed warning. There are no approved biologics for AA. Substantial unmet need remains for treatments that are durable, well tolerated, and able to address the full spectrum of disease severity. About ImageneBio, Inc. Imagene is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune and inflammatory diseases with differentiated clinical profiles. The Company's program, IMG-007, is a receptor targeting, non-T cell-depleting, ADCC-silenced, anti-OX40 monoclonal antibody with an approximately 5-week half-life. Imagene has completed proof-of-concept clinical trials of IMG-007 in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of IMG-007 in patients with moderate-to-severe atopic dermatitis. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the ongoing Phase 2b ADAPTIVE study, including the potential benefits from the protocol amendment thereto; belief that the anti-OX40/OX40L class is on a promising path towards adoption in AD and other inflammatory and autoimmune indications; the potential benefits of OX40/OX40L antagonists generally and IMG-007 specifically in AD and AA; IMG-007 is the right molecule to showcase the benefits of the OX40 target; the Company’s expected cash runway, including that it is sufficient to achieve inflection points in the development of both AD and AA; the anticipated timing for initiating clinical trials and reporting clinical trial results; whether the efficacy dataset from the ADAPTIVE trial will enable a registrational Phase 3 trial; and other statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future. Words such as "will," "can," "expect," "may," "plan," "potential," "goal," or other words that convey uncertainty of future events or outcomes are used to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: risks associated with the nonclinical and clinical development and regulatory approval of IMG-007, including potential delays in the completion of clinical trials and potential safety and other complications thereof; the timing of the availability of data from the Company's clinical trials; the clinical utility, potential differentiation and/or benefits and market acceptance of IMG-007; the requirement for additional capital to continue to advance the IMG-007 program, which may not be available on favorable terms or at all; the Company's ability to attract, hire, and retain skilled executive officers and employees; the Company's ability to protect its intellectual property and proprietary technologies; the Company's reliance on third parties, contract manufacturers, and contract research organizations; the possibility that the Company may be adversely affected by other economic, political, business, or competitive factors; and risks associated with changes in applicable laws or regulations or government resources and policies. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in the Company's filings with the Securities and Exchange Commission (the SEC), including the factors described in the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 10, 2026, and in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, being filed with the SEC later today. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Company and Investor Contact Rebecca Cohen [email protected] Media Contact Jason Braco, PhD The Health & Science Agency [email protected]

SAN DIEGO, March 10, 2026 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA) (“Imagene” or the “Company”) today reported financial results for the fourth quarter and full year ended December 31, 2025, and provided a company update. Company Highlights The IMG-007 Phase 2b ADAPTIVE trial in adults with moderate-to-severe atopic dermatitis (AD) is ongoing at North American sites; the study began enrolling in mid-2025 with topline data expected in 2027. A recent blinded safety review showed a favorable emerging tolerability profile consistent with previous IMG-007 patient experience. The Company has submitted a protocol amendment intended to expand the number and exposure range of dosing regimens being evaluated, characterize the role of loading doses, evaluate patient-friendly dosing intervals, and understand the effect of short- and longer-term treatment with IMG-007. The Company welcomed Dr. Ben Porter-Brown, who brings deep inflammation and medical dermatology experience including leading the development of anti-OX40L investigational therapeutic amlitelimab through the end of Phase 2, as Chief Medical Officer in February 2026. An oral presentation of IMG-007 preclinical data, including characterization of the non-depleting nature of the antibody, will be shared at the 83rd Annual Society for Investigative Dermatology (SID) Meeting (May 2026; Chicago, IL). “IMG-007 is now the leading receptor-targeting OX40 antagonist program in clinical development. Our approach is entirely unlike that of ADCC-enhanced anti-OX40 antibodies such as rocatinlimab: published data has shown rocatinlimab treatment causes deep depletion of T cells, while IMG-007 is a non-T cell depleting antibody. This is a fundamental, intentional, and critical difference in our molecule’s design,” commented Kristin Yarema, PhD, Chief Executive Officer of Imagene. “While the clinical profile of IMG-007 remains early, our safety database continues to grow and we have not seen any of the tolerability issues mechanistically linked to T cell depletion -- pyrexia, chills, ulcers -- nor have we seen any malignancies. This emerging clinical profile adds to the compelling, competitive efficacy we saw in our proof-of-concept studies in atopic dermatitis and alopecia areata. We are confident that ADAPTIVE, our Phase 2b dose-ranging study in AD, is robust and designed to well characterize IMG-007’s efficacy, safety, and convenience for patients.” IMG-007 Program Updates IMG-007 is a novel, non-T cell depleting, receptor-targeting, anti-OX40 monoclonal antibody currently being evaluated in the Phase 2b ADAPTIVE trial in adults with moderate-to-severe AD. The study began enrolling in mid-2025 and is enrolling at North American sites. IMG-007 has been well tolerated in all clinical trials conducted to date, including in the ADAPTIVE trial. In total, over 150 subjects have participated in clinical trials of IMG-007, including several with six months or more continuous exposure. A blinded safety review was conducted in March 2026 to assess the consistency of IMG-007’s emerging tolerability profile A total of two serious adverse events, both deemed unrelated to IMG-007, have been observed to date across all studies of IMG-007, including in the ADAPTIVE Phase 2b trial Consistent with previous reporting, no cases of administration-associated pyrexia or chills, aphthous or gastrointestinal ulcers, serious infections or malignancies have been observed with IMG-007 treatment to date This includes no cases of Kaposi’s sarcoma Moreover, across all IMG-007 studies using the subcutaneous formulation to date, the rate of injection site reactions has been less than 0.10% with all reported events being mild and transitory The ADAPTIVE study is meeting enrollment expectations and, consistent with previous guidance, remains on track for a topline readout in 2027 with continued strong interest from investigators A previously announced protocol amendment to the ADAPTIVE trial was submitted with intent to: Expand the number and exposure range of dosing regimens studied to fully characterize the clinical profile of IMG-007 Characterize the role of loading doses in driving the magnitude of efficacy and time to onset of effect Evaluate patient-friendly dosing intervals Understand the role of short- and longer-term treatment Optimize study execution “It has been inspiring to hear the enthusiasm for IMG-007 from our investigators and other leading dermatologists, as well as their understanding of its unique features that we believe will prove key to establishing a differentiated efficacy, safety, and convenience profile.” said Dr. Ben Porter-Brown, Chief Medical Officer. “We continue to have strong conviction that IMG-007 has the potential to be the most efficacious of this novel class of agents. While we advance the study, we are also mindful of recent news regarding competing Phase 3 development programs targeting OX40 or OX40L and the emerging focus on safety. Together with leaders in the field, we are actively exploring ways to better understand Kaposi’s sarcoma, its link with HHV-8 viral reactivation and any potential relationship to OX40-OX40L signaling in the AD patient population. As we apply these learnings to the IMG-007 program, our priority is to execute ADAPTIVE with rigor—and to continue to examine IMG-007’s novel profile, including safety, as well as the promising efficacy IMG-007 showed in proof-of-concept studies.” Upcoming Scientific Presentation Imagene will deliver an oral presentation of preclinical data, including characterization of IMG-007’s non-T cell depleting profile, at the 83rd Annual Society for Investigative Dermatology (SID) Meeting in May 2026 in Chicago, IL. Title: Preclinical characterization of IMG-007, a high-affinity, non-depleting anti-OX40 monoclonal antibody for the treatment of inflammatory and autoimmune disease Session: Translational Studies, Preclinical Date: May 15, 2026 Corporate Updates In July 2025, ImageneBio, Inc. was formed and funded through a reverse merger with Ikena Oncology, Inc. (Ikena) and a concurrent $75 million private placement. The transaction followed a strategic process in which Ikena evaluated multiple companies and selected Imagene Biopharmaceuticals with the aim to fund and develop IMG-007. In 2025 and early 2026, Imagene added several key executives, including Dr. Ben Porter-Brown as Chief Medical Officer, and an independent board member. Dr. Ben Porter-Brown joined Imagene with over 20 years of experience, primarily in autoimmune and inflammatory diseases. He most recently served as Chief Medical Officer of MoonLake Immunotherapeutics, and prior to that he spent several years at Kymab, Ltd, now a Sanofi Company, where as Vice President of Clinical Development he led the development of amlitelimab, an anti-OX40 ligand monoclonal antibody. Other 2025 team additions included: Kristin Yarema, Ph.D., Chief Executive Officer (July 2025) Kurinji Pandiyan, Ph.D., Chief Strategy and Operations Officer (September 2025) Renuka Sivendran, Ph.D., Chief Technical Officer (September 2025) Joe Slattery, independent Director and Chair of the Audit Committee (November 2025) The Company ended 2025 with a strong financial position to execute on its Phase 2b clinical program in atopic dermatitis, with $135.3 million in cash, cash equivalents, and marketable securities as of December 31, 2025. Fourth Quarter 2025 Financial Results Cash Position: As of December 31, 2025, the Company had cash, cash equivalents, and marketable securities of $135.3 million as compared to $12.1 million as of December 31, 2024. The increase is primarily the result of the completion of the merger between Inmagene Biopharmaceutics with Ikena (the Merger). Additionally, concurrently with the closing of the Merger, the Company completed a $75.0 million private placement with a syndicate of existing Ikena investors and new investors. Research and Development (R&D) Expenses: R&D expenses for the three months ended December 31, 2025 were $3.3 million as compared to $3.8 million for the three months ended December 31, 2024. The company continues to invest in clinical trial and personnel related expenses associated with its primary development program. General and administrative (G&A) Expenses: G&A expenses for the three months ended December 31, 2025 were $5.2 million as compared to $2.4 million for the three months ended December 31, 2024. The increase of $2.8 million is primarily due to a $0.6 million increase in professional fees associated with the Merger and $1.8 million in personnel and non-cash stock-based compensation expenses. Net Loss: Net loss for the three months ended December 31, 2025 was $6.9 million as compared to $4.8 million for the same period in 2024. The increase of $2.1 million was due to additional operating costs following the Merger and associated transaction costs. About IMG-007 ADAPTIVE Trial IMG-007 is a novel, antibody-dependent cellular cytotoxicity (ADCC) silenced, non-T cell depleting, receptor targeting, anti-OX40 monoclonal antibody with approximately a 5-week half-life. The ADAPTIVE trial (NCT07037901) is an ongoing Phase 2b, randomized, placebo-controlled dose ranging study designed to evaluate the efficacy and safety of various dose regimens of IMG-007 in adults with moderate-to-severe AD, recruiting both biologic- and/or JAK inhibitor-experienced and naive patients. About ImageneBio, Inc. Imagene is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune and inflammatory diseases with differentiated clinical profiles. The Company’s program, IMG-007, is a receptor targeting, nondepleting anti-OX40 monoclonal antibody with multiple differentiating features. Imagene has completed Phase 1b/2a clinical trials of IMG-007 in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of IMG-007 in patients with moderate-to-severe atopic dermatitis. For more information, please visit www.imagenebio.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the ongoing Phase 2b ADAPTIVE study; the potential benefits of the protocol amendment; belief that the anti-OX40/OX40L class is on a promising path towards adoption in AD and other inflammatory and autoimmune indications; the potential benefits of OX40/OX40L antagonists generally and IMG-007 specifically in AD and AA; the ability of the Company to grow its safety database related to IMG-007; the Company’s plans to further explore Kaposi’s sarcoma, its link with HHV-8 viral reactivation and its potential relationship to OX40-OX40L signaling in the AD patient population; and other statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future. Words such as “will,” “can,” “expect,” “may,” “plan,” “potential,” “goal,” or other words that convey uncertainty of future events or outcomes are used to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: risks associated with the nonclinical and clinical development and regulatory approval of IMG-007, including potential delays in the completion of clinical trials and potential safety and other complications thereof; the timing of the availability of data from the Company’s clinical trials; the risk that competitor data may materially and adversely impact the Company, its business, and its future prospects; the clinical utility, potential differentiation and/or benefits and market acceptance of IMG-007; the requirement for additional capital to continue to advance the IMG-007 program, which may not be available on favorable terms or at all; the Company’s ability to attract, hire, and retain skilled executive officers and employees; the Company’s ability to protect its intellectual property and proprietary technologies; the Company’s reliance on third parties, contract manufacturers, and contract research organizations; the possibility that the Company may be adversely affected by other economic, political, business, or competitive factors; and risks associated with changes in applicable laws or regulations or government resources and policies. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in the Company’s filings with the Securities and Exchange Commission (the SEC), including the risks set forth under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our subsequent Quarterly Reports on Form 10-Q, to be filed with the SEC, and in our other filings with the SEC. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Investor and Media Contact: [email protected]

$142.6 million cash and cash equivalents and marketable securities as of September 30, 2025 Protocol amendment for ongoing Phase 2b ADAPTIVE study of IMG-007 in atopic dermatitis (AD) announced to optimize study design in alignment with IMG-007’s unique molecular attributes; strong patient enrollment continues Novel alopecia areata data including biomarkers from Phase 1b/2a study to be presented at upcoming Inflammatory Skin Disease Summit (ISDS) Strengthened leadership team and board with addition of Dr. Kristin Yarema as Chief Executive Officer, Dr. Kurinji Pandiyan as Chief Strategy and Operations Officer, Dr. Renuka Sivendran as Chief Technical Officer, and Joe Slattery as an independent director SAN DIEGO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA, “Imagene,” or the “Company”), a clinical-stage biotechnology company developing therapeutics for patients with immunological, autoimmune and inflammatory diseases, including IMG-007, an anti-OX40 monoclonal antibody with multiple differentiating features, today announced financial results for the quarter ended September 30, 2025, and provided an update on its program. “We are in a wonderful position as we complete our first quarter as a public company. Atopic dermatitis is a chronic, serious and highly prevalent inflammatory disease where new treatments are much needed. Despite the impressive multibillion dollar market size, today only around 15% of eligible patients receive advanced therapy including biologics, and more than a third of those patients do not receive sufficient relief from that treatment. We have spent our first few months as a new team engaging with our networks of top key opinion leaders, treating physicians, and other experts in atopic dermatitis, as well as gaining valuable insights from the recent, extensive OX40-targeting data shared by our peers,” commented Kristin Yarema, Ph.D., Chief Executive Officer. She continued, “Our recent learnings reinforce our belief that the anti-OX40/OX40L class, with its unique mechanism, is on a promising path towards adoption in atopic dermatitis and other inflammatory and autoimmune indications. However, the peer data to date also highlight the need for a differentiated anti-OX40 treatment that is safe and can be administered at optimal doses for maximum efficacy. Both thoughtful study design and high-quality execution are essential to achieve success—we must ‘sweat the small stuff.’ We believe IMG-007 is the only anti-OX40 in mid- to late-stage clinical development that is non-T cell depleting and receptor-targeting, with a roughly 5-week half-life. This combination of mechanistic and pharmacologic properties has the potential to offer a best-in-class profile for patients. As we continue to advance our ongoing Phase 2b trial, we intend to use our learnings to amend the study in ways that we believe will help us best demonstrate the differentiated potential of IMG-007.” IMG-007 Program Updates Ongoing Phase 2b Clinical Trial and Upcoming Protocol Amendment The Phase 2b ADAPTIVE trial is a randomized, placebo-controlled dose-finding study designed to evaluate the efficacy and safety of various dose regimens of IMG-007 in adults with moderate-to-severe AD, recruiting both biologic- and/or JAK inhibitor-experienced and naive patients. A protocol amendment will be submitted to the regulatory agencies with the intent to: Expand the number and exposure range of dosing regimens studied to fully characterize the clinical profile, given the molecular features of IMG-007 and favorable tolerability profile seen to date Characterize the role of loading doses in driving the magnitude of efficacy and time to onset of effect Evaluate patient-friendly dosing intervals Understand the role of short- and longer-term treatment Optimize feasibility of successful study execution Enrollment in the study is ongoing at North American sites and will continue Topline data from the study is expected in 2027 Upcoming Data Presentations Imagene will have two posters and an oral presentation at the upcoming 6th Annual Inflammatory Skin Disease Summit (ISDS) in New York November 12-15, 2025. Oral Presentation: Anti-OX40 monoclonal antibody IMG-007 exhibited clinical activity of hair regrowth, suppressed scalp inflammatory biomarkers in patients with severe alopecia areata in a Ph1b/2a study Presenting Author: Emma Guttman, M.D, Waldman Professor of Dermatology and Immunology and Chair of the Kimberly and Eric J. Waldman Department of Dermatology at the Icahn School of Medicine at Mount Sinai Presentation date and time: Thursday, November 13, 2025, 9:15 am ET Accompanying poster date and time: Thursday, November 13, 2025, 7:30-10:00 pm ET Treatment with three doses of IMG-007 over four weeks resulted in a dose-related signal of hair regrowth Four-week treatment with IMG-007 600 mg also resulted in broad and durable suppression of activated T cell biomarkers and partial restoration of hair keratins in scalp biopsies IMG-007 was well tolerated overall by patients with severe AA with no pyrexia or chills reported Poster Presentation: IMG-007, a non-depleting anti-OX40 monoclonal antibody, reduced skin lesion severity and serum inflammatory markers in adults with moderate-to-severe atopic dermatitis in a Phase 1b/2a study Poster (encore presentation) date and time: Thursday, November 13, 2025, 7:30-10:00 pm EST Mean reduction in EASI score from baseline at week 16 of 77% among 13 patients treated with up to 3 doses of IMG-007 over 4 weeks EASI-75 response (at least 75% reduction from baseline EASI score) was achieved by 54%, 54% and 46% of participants at weeks 16, 20, and 24, respectively EASI-90 response (at least 90% reduction in EASI score) was achieved by 31% of participants at week 16 and maintained through week 24 IMG-007 was well tolerated overall by AD patients with no reports of pyrexia or chills “The data we are presenting from both trials at ISDS adds to the complete picture of how IMG-007 is distinctive and exciting. Our AA data represent the first clinical results for an anti-OX40/OX40L agent in patients with severe alopecia areata, a disease for which there are few treatment options and no targeted biologics approved. The biopsy biomarker data provides a richer understanding of the potential role OX40 inhibition can play in reducing inflammation in the scalps of AA patients,” Dr. Yarema commented. “The promising early data IMG-007 has shown in AA patients illustrates this program’s potential as a ‘pipeline in a product.’” Corporate Updates Kristin Yarema, Ph.D, joined as Chief Executive Officer as previously announced in July 2025, taking on the role as the merger was completed and Imagene was established as a public company. Dr. Yarema joined after serving as Chief Executive Officer and Director of Poseida Therapeutics where her tenure culminated in an acquisition by Roche in January 2025 Prior to Poseida, Dr. Yarema served as Chief Commercial Officer at Atara Biotherapeutics She has also held numerous senior positions at Amgen, Novartis, and McKinsey & Company, and serves on the boards of directors of the Celiac Disease Foundation and the Alliance for Regenerative Medicine Kurinji Pandiyan, Ph.D., joined as Chief Strategy and Operations Officer in September 2025 Dr. Pandiyan joined from Poseida Therapeutics where she was Head of Portfolio & Strategy and Chief of Staff to the CEO and led autoimmune disease development planning Previous roles include leadership positions at Atara Biotherapeutics, AVITA Medical and time as a principal at Boston Consulting Group (BCG) Renuka Sivendran, Ph.D., joined the Company in September 2025 as Chief Technical Officer to lead manufacturing and all other CMC related activities Dr. Sivendran joined from Agenus, Inc. where she led all CMC functions since January 2021 as Vice President of Technical Operations Previous roles include leadership positions at Five Prime Therapeutics (acquired by Amgen), Amgen and Regeneron Joe Slattery was recently appointed to the Board of Directors as an independent director and will serve as Chair of the Audit Committee. Joe is a former public company CFO and a deeply experienced biotechnology industry board member. Joe currently serves on the boards and chairs the audit committees of Replimune Group, Inc. and CVRx, Inc. He previously served on the boards of Morphic Therapeutics, Exosome Diagnostics, Micromet, TranS1, and Omega Alpha SPAC Mr. Slattery’s experience also includes roles as a public company CFO at Asensus Surgical, TransS1 Inc., and Digene Corporation, which span from 1996 to 2019 where he led multiple exits and hundreds of millions in capital raises Third Quarter 2025 Financial Results Cash Position: As of September 30, 2025, the Company had cash, cash equivalents, and marketable securities of $142.6 million as compared to $12.1 million as of December 31, 2024. The increase is primarily the result of the completion of the merger between Inmagene Biopharmaceutics with Ikena Oncology, Inc. (Ikena). Additionally, concurrently with the closing of the merger, the Company completed a $75.0 million private placement with a syndicate of existing Ikena investors and new investors. Research and Development (R&D) Expenses: R&D expenses for the three months ended September 30, 2025 was $15.6 million as compared to $3.9 million for the three months ended September 30, 2024. The increase of $11.7 million is primarily due increased clinical trial expenses and recognition of non-cash stock-based compensation expense upon completion of the merger. General and administrative (G&A) Expenses: General and administrative expenses for the three months ended September 30, 2025 were $11.0 million compared to $1.7 million for the three months ended September 30, 2024. The increase of $9.3 million was primarily due to a $5.2 million increase in stock-based compensation and increases in professional services and compensation costs. Net Loss: Net loss for the three months ended September 30, 2025 was $24.8 million as compared to $3.2 million for the same period in 2024. The increase of $21.6 million was due to additional operating costs in connection with the merger and associated transaction costs. About ImageneBio, Inc. ImageneBio is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune, and inflammatory diseases with differentiated clinical profiles. The company’s program, IMG-007, is a receptor targeting, nondepleting anti-OX40 monoclonal antibody with multiple differentiating features. Imagene has completed Phase 1b/2a clinical trials of IMG-007 in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of IMG-007 in patients with moderate-to-severe atopic dermatitis. For more information, please visit www.imagenebio.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the ongoing Phase 2b ADAPTIVE study, including ImageneBio’s plans to submit a protocol amendment thereto and the design thereof; the potential benefits of the protocol amendment; belief that the anti-OX40/OX40L class is on a promising path towards adoption in AD and other inflammatory and autoimmune indications; the potential benefits of OX40/OX40L antagonists generally and IMG-007 specifically in AD and atopic dermatitis, including its best-in-class potential and as a pipeline in a product, including potential in AA; and other statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future. Words such as “will,” “can,” “expect,” “may,” “plan,” “potential,” “goal,” or other words that convey uncertainty of future events or outcomes are used to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: risks associated with the nonclinical and clinical development and regulatory approval of IMG-007, including potential delays in the completion of clinical trials and potential safety and other complications thereof; the timing of the availability of data from the Company’s clinical trials; the clinical utility, potential differentiation and/or benefits and market acceptance of IMG-007; the requirement for additional capital to continue to advance the IMG-007 program, which may not be available on favorable terms or at all; the Company’s ability to attract, hire, and retain skilled executive officers and employees; the Company’s ability to protect its intellectual property and proprietary technologies; the Company’s reliance on third parties, contract manufacturers, and contract research organizations; the possibility that the Company may be adversely affected by other economic, political, business, or competitive factors; and risks associated with changes in applicable laws or regulations or government resources and policies. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in the Company’s filings with the Securities and Exchange Commission (the SEC), including the factors described in the section titled “Risk Factors” in the Company’s Registration Statement on Form S-1, filed with the SEC on September 8, 2025, and in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, being filed with the SEC later today. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Investor and Media Contact: [email protected]