Mentari lists via InMed merger, takes $290m for migraine pipeline

20 May 2026

Canadian biotech InMed Pharmaceuticals (Nasdaq: INM) is set to merge with privately held Mentari Therapeutics in an all-stock reverse merger that will create a Nasdaq-listed company focused on next-generation migraine prevention therapies.

The deal, expected to close in the second half of 2026, values the combined company at around $421 million on a pro forma basis, including a concurrent $290 million private financing led by Fairmount. Existing InMed shareholders are expected to own about 1.5% of the merged group.

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