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Chemomab Therapeutics Announces Second Quarter 2026 Financial Results and Provides Corporate Update Proposed merger with Scipher Medicine to assess nebokitug in a Phase 2 precision medicine trial in rheumatoid arthritis ( RA ) continues to advance with closing expected by year - end RA is a $ 24 billion market with substantial unmet need — nebokitug could potentially be the first novel mechanism RA therapy approved in the U.S. since 2012 Scipher's Al Network Medicine platform identified first - in - class CCL24 - blocker nebokitug as the highest ranked clinical - stage candidate for RA , potentially providing additional therapeutic benefit to the two - thirds of RA patients who do not achieve low disease activity or remission with current therapies Nebokitug RA Phase 2 clinical trial expected to begin in H1 2027 and read out in H1 2028 , providing a potential key inflection point Combined company is valued at $ 150 million before concurrent $ 30 million private placement at closing and isexpected to have cash runway through the Phase 2 readout TEL AVIV , Israel , August 19 , 2026 -- Chemomab Therapeutics Ltd. ( Nasdaq : CMMB ) ( " Chemomab " ) , a clinical stage biotechnology company developing innovative therapeutics for immune - fibrotic diseases with high unmet need , today announced financial and operating results for the second quarter ended June 30 , 2026 , and provided a corporate update . Adi Mor , PhD , co - founder and Chief Executive Officer of Chemomab , said , “ The planned merger with Scipher Medicine continues to advance . As we have reported , Scipher's validated Al network medicine platform , SPECTRA ™ , identified nebokitug as the leading candidate to address a major unmet need in rheumatoid arthritis ( RA ) , a $ 24 billion market . We believe this merger provides our shareholders a compelling opportunity to potentially realize value through the clinical advancement of nebokitug in a large indication , as well as through Scipher's revenue - generating precision medicine business and its biopharma partnerships . The opportunity also remains to secure a potential partner for a nebokitug Phase 3 trial in primary sclerosing cholangitis ( PSC ) , an indication with no FDA - approved therapies . We look forward to working with our colleagues at Scipher to complete the proposed transaction and expedite the initiation of the Phase 2 trial in RA , marking an important new phase in the development of nebokitug and our anti - CCL24 platform . " Reg Seeto , MBBS , Chief Executive Officer of Scipher Medicine , said , " We believe the announced strategic merger with Chemomab is a unique opportunity to transform the treatment of immunology - based diseases with precision medicine . We plan to start with nebokitug in patients with rheumatoid arthritis , which like other immunology - based diseases is complex in origin . This complexity results in a heterogeneous patient population with unmet medical needs , since one - size - fits - all therapies do not work well for many patients . In RA , this approach has resulted in the majority of moderate - to - severe patients not achieving an enduring response , despite multiple available treatment options . " Dr. Seeto continued , " We reached out to Chemomab because SPECTRATM , our validated Al - enabled network medicine platform , had identified nebokitug's novel mechanism as the highest ranked clinical program for potentially achieving efficacy in RA compared to both current and pipeline drugs in development . We intend to develop a nebokitug - specific molecular treatment - response signature ( MTRS ) using the technology that built the only MTRS approved by CMS in immunology . We believe this technology could increase the probability of clinical success , as we preferentially target the population that may benefit from nebokitug . Oncology has already demonstrated patient benefit with precision medicine by improving outcomes in a targeted population and has expanded the overall market with this approach of the right drug for the right patient . We see the field of immunology as the next frontier for precision medicine and we are already leading the way . Second Quarter 2026 and Recent Highlights : • Entered into Definitive Merger Agreement with Scipher Medicine . On July 8 , 2026 , Chemomab announced that it had entered into a definitive merger agreement ( the " Merger Agreement " ) with Scipher Medicine Corporation pursuant to which the companies will combine in an all - stock transaction ( the " Merger " ) . Under the terms of the Merger Agreement , Chemomab equity holders are expected to own approximately 32 % of the combined company , with Scipher equity holders owning approximately 68 % , subject to customary adjustments . The combined company is valued at $ 150 million prior to a concurrent $ 30 million private placement financing and is expected to have sufficient cash to fund operations through the readout of the nebokitug Phase 2 RA trial . The private placement is being led by a syndicate of current Scipher investors , including Northpond Ventures , with participation from Khosla Ventures , Blue Owl Healthcare Opportunities , funds managed by Neuberger , and other leading investors , and includes 100 % warrant coverage , with the warrants having an exercise price based on a $ 75 million valuation . In addition , immediately following the closing , Chemomab shareholders will receive contingent value rights ( CVRs ) , providing the opportunity to receive future cash payments of $ 10 million upon U.S. Food and Drug Administration approval of nebokitug for any indication and $ 40 million if Chemomab's PSC program advances to a Phase 3 clinical trial or is partnered , in each case subject to the terms and conditions of the CVR agreement . Upon completion of the Merger , the combined company is expected to operate as Scipher Medicine Corporation and trade on the Nasdaq Capital Market under the ticker symbol " SCIP . " The combined company plans to initially focus on advancing nebokitug , a first - in - class clinical stage anti - CCL24 antibody , into a Phase 2 clinical trial for the treatment of rheumatoid arthritis , with topline results expected in the first half of 2028. Following the closing , Dr. Reginald Seeto will serve as Chief Executive Officer of the combined company , and Chemomab co - founder and Chief Executive Officer Dr. Adi Mor will join the combined company's Board of Directors . • Presented three abstracts on May 30 , 2026 at EASL 2026 , the Annual Congress of the European Association for the Study of the Liver in Barcelona , Spain . 。 In one EASL 2026 study¹ , Olink - generated analyses of circulating proteins in patient samples from the nebokitug PSC Phase 2 SPRING trial were used to generate an Al / machine learning model to identify patients who showed a combined improvement in three key fibrosis - related measures . The model showed strong performance and reliability , accurately distinguishing patients who met the combined improvement definition from those who did not . 。 A second EASL 2026 study² examined the impact of nebokitug treatment on four PSC - specific gene expression programs ( GEPs ) .