Chemomab and Scipher Medicine agree to merge, target RA precision medicine trial
The combined company, to be named Scipher Medicine, plans a Phase 2 trial of nebokitug in rheumatoid arthritis guided by an AI patient-selection platform, with a readout expected in H1 2028.
Chemomab Therapeutics and Scipher Medicine Corporation announced on July 8, 2026 that they have entered into a definitive merger agreement pursuant to which the companies will combine in a stock transaction.1 Once the deal closes, the combined company expects to operate as Scipher Medicine Corporation and trade on Nasdaq under the ticker symbol "SCIP."1 The plan is to focus initially on advancing nebokitug, a first-in-class clinical stage anti-CCL24 antibody, into a Phase 2 trial for the treatment of rheumatoid arthritis.1
Financing for the deal comes from existing Scipher backers. A group of current Scipher investors, headed by Northpond Ventures and including Khosla Ventures, Blue Owl Healthcare Opportunities, funds managed by Neuberger, and other investors, has agreed to provide roughly $30 million in new gross cash to Scipher, Chemomab, and the merged company.1 That cash, combined with existing resources, is meant to fund company operations through H2 2028.1 The company said a topline readout of the RA Phase 2 trial results is expected in H1 2028.1
Leadership will consist of Dr. Reginald Seeto as CEO, with Chemomab co-founder and CEO Adi Mor, PhD, joining the combined company's board.1
On trial design, the companies said the RA study will use the FDA's standard 12-week endpoints for rheumatoid arthritis and will apply Scipher's multi-modal, multi-omic PrismRA test as an AI tool to help select which patients enroll.1
Regarding deal mechanics, pre-merger Chemomab holders are expected to own about 32% of the combined company and pre-merger Scipher holders about 68%, on a fully diluted basis, subject to adjustment.1 Chemomab shareholders will also receive contingent value rights tied to nebokitug milestones. Both companies' boards have already signed off on the agreement, and the deal is targeted to close in the fourth quarter of 2026, pending shareholder votes, an effective S-4 registration statement, Chemomab's U.S. redomiciling, and other standard conditions.1 Separately, the 6-K filing noted a termination fee structure: Chemomab would owe Scipher $2,000,000 if it terminates for a superior offer or under a specified triggering event, or $500,000 if shareholders fail to approve the deal.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.