Vancouver – November 07, 2026 -- InMed Pharmaceuticals has completed its merger with privately held Mentari Therapeutics, which closed private financings of approximately $490 million in gross proceeds immediately before the deal. The combined company operates as Mentari Therapeutics, Inc.
Shares begin trading as MTRI on Nasdaq Capital Market on November 9
The combined company's shares are expected to start trading at market open on Monday, November 9, 2026, under the ticker "MTRI" and the new CUSIP number 587157108. The stock previously traded on Nasdaq as INM.
$490 million financing includes $50.0 million in converted notes
The proceeds include the conversion of $50.0 million of previously issued convertible notes, plus accrued interest. Immediately before closing, the company also redomesticated from British Columbia, Canada, to the State of Nevada.
Pre-merger Mentari shareholders receive 0.20065 shares per share held
Each outstanding share of pre-merger Mentari common stock converted into approximately 0.20065 shares of the combined company. The ratio is adjusted for the 1-for-10 reverse stock split effected on November 4, 2026.
Holders of record of InMed common shares at the close of business on November 5, 2026 received one non-transferable contingent value right for each share held.
Two anti-PACAP antibodies lead the migraine prevention pipeline
Mentari is a clinical-stage biotechnology company developing therapies for migraine prevention. The source says migraine affects more than 1 billion people globally. Its lead programs are MT-001, an anti-PACAP monoclonal antibody, and MT-002, an anti-PACAP and anti-CGRP bispecific antibody. The company says MT-002 has the potential to deliver greater efficacy for people with incomplete response to existing therapies. Both programs were discovered by Paragon.