INmune Bio Announces $13.0 Million Registered Direct Offering Boca Raton, Florida

INmune Bio Announces $13.0 Million Registered Direct Offering

Boca Raton, Florida, Sept. 12, 2024 (GLOBE

NEWSWIRE) -- INmune Bio Inc. (Nasdaq: INMB) (the "Company" or "INmune Bio"), a clinical- stage inflammation and

immunology company focused on developing treatments that harness a patient's innate immune system to fight disease, today announced

it has entered into securities purchase agreements with new and existing institutional investors and certain directors and officers and

employees of the Company (the directors and officers and employees herein referred to as the "Insiders"), for the purchase

and sale of 2,341,260 shares of its common stock and warrants to purchase up to an aggregate of 2,341,260 shares of common stock at a

combined purchase price per share and accompanying warrant of $5.50 for the institutional investors, and $6.50 per share and accompanying

warrant for the Insiders, pursuant to a registered direct offering. The warrants will be exercisable commencing six months from the date

of issuance at a price of $6.40 per share and will expire five years from the initial exercise date. The warrant term may be subject to

acceleration following the satisfaction of certain conditions. In the case of Insiders that participated in the offering, if the warrant

termination date is on a blackout date, then the Insiders will have an additional 60 days from the termination of the blackout date to

exercise the warrant.

The gross proceeds of the offering will

be approximately $13.0 million before deducting placement agent fees and other estimated offering expenses. The closing of the offering

is expected to take place on or about September 16, 2024, subject to the satisfaction of customary closing conditions. The Company intends

to use the net proceeds from the offering for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting

as sole placement agent for the offering.

This offering is being made pursuant to

an effective shelf registration statement on Form S-3 (File No. 333-279036) previously filed with the

U.S. Securities and Exchange Commission

(the "SEC") and declared effective on August 7, 2024. A prospectus supplement describing the terms of the offering will be

filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus

supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022,

or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.

This press release shall not constitute

an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in

which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such

state or jurisdiction.

INmune Bio Inc. is a publicly traded (NASDAQ:

INMB), clinical-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune

Bio has two product platforms that are both in clinical trials: The Dominant-Negative Tumor Necrosis Factor (DN-TNF) product platform

utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and a mechanistic

driver of many diseases. XPRO, the first of several DN-TNF products, is in clinical trials to determine if it can treat patients with

Mild Alzheimer's disease. Additional therapeutic indications including treatment-resistant depression and oncology will be pursued

when resources allow. The Natural Killer Cell Priming Platform includes INKmune , a therapy developed to prime a patient's

NK cells to treat patients with cancer. INKmune uses a precision medicine approach for the treatment of a wide variety of hematologic

and solid tumor malignancies. The INKmune trial is enrolling patients into a US Phase I/II trial in men with metastatic castrate resistant

prostate cancer. To learn more, please visit www.inmunebio.com.

Forward-Looking Statements

Clinical trials are in early stages and

there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe

historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of

1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as

that term is defined in the Private Securities Litigation Reform Act of 1995 including but not limited statements related to the expected

timing of the closing and the intended use of proceeds. Any forward-looking statements contained herein are based on current expectations

but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially

from those described by the forward-looking statements as a result of these risks and uncertainties. INB03 , XPro1595, and INKmune

are still in clinical trials or preparing to start clinical trials and have not been approved by the US Food and Drug Administration (FDA)

or any regulatory body and there cannot be any assurance that they will be approved or that any specific results will be achieved. The

factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and

uncertainties relating to the Company's ability to produce more drug for clinical trials; the availability of substantial additional

funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization;

and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.

These and other factors are identified and described in more detail in the Company's filings with the Securities and Exchange Commission,

including the Company's Annual Report on Form 10-K, the Company's Quarterly Reports on Form 10-Q and the Company's Current

Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance

that may arise after the date of this release.

David Moss, CFO (858) 964-3720

Managing Director - LifeSci Advisors mmoyer@lifesciadvisors.com