On February 10, 2023 INmune Bio, Inc. (NASDAQ: INMB) (the "Company"), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, reported that it has received a combined approximately $6.4 million in research and development refunds from both Australia (~$3.7 million) and the United Kingdom (~$2.7 million) (Press release, INmune Bio, FEB 10, 2023, View Source [SID1234627073]). The Company will use the rebates to reinvest in its clinical programs, particularly the ongoing Phase 2 Alzheimer’s Disease (AD) trial in Australia and Canada.

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"The R&D rebates are a non-dilutive source of funding that enable INmune to meaningfully reinvest the proceeds to increase recruitment and enrollment in both Australia where we expect to continue to receive future rebates associated with increased spend and Canada where we are expanding the Phase 2 AD program. We continue to expand our international enrollment and are working diligently on trying to open additional international countries for the Phase 2 AD trial while we continue to collaborate with the FDA and its manufacturing review of the planned U.S. trial," commented David Moss, Chief Financial Officer.