IN8bio Reports First Quarter 2025 Financial Results and Recent Business Highlights

   -- Phase 1 clinical data of INB-100 continues to demonstrate long-term 
      durable remissions, with 100% of treated Acute Myeloid Leukemia $(AML.AU)$ 
      patients remaining relapse-free with median follow-up of 20.1 months as 
      of January 17, 2025, as presented at the 2025 Transplantation & Cellular 
      Therapy (TCT) Meetings 
   -- On May 1st, 2025, we celebrated the 5th anniversary of the first patient 
      ever treated with a gamma-delta T cell therapy being developed by IN8bio. 
      This older patient with complex AML and multiple genetic abnormalities 
      was treated with INB-100 and remains alive and in remission today 
 
   -- Presented new data on INB-600, a next-generation gamma-delta T cell 
      engager (TCE) platform at the American Association for Cancer Research 
      (AACR) 2025 Annual Meeting with potential applications across both 
      oncology and autoimmune diseases 
 
   -- Continued operational execution with strategic focus on meaningful data 
      milestones including an upcoming oral presentation of INB-200 at the 
      American Society of Clinical Oncology (ASCO) 2025 Annual Meeting 
 
   -- Raised aggregate net proceeds of approximately $4.1 million from the sale 
      of common stock under the ATM and exercise of warrants in 1Q25 

NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company developing innovative gamma-delta T cell therapies, today reported financial results and business highlights for the first quarter ended March 31, 2025 and recent corporate highlights.

"IN8bio stands at the forefront of gamma-delta T cell innovation, pioneering transformative therapies for cancer patients with urgent unmet needs. Driven by our commitment to scientific excellence, we are advancing our mission of Cancer Zero$(TM)$ with elegant, cutting-edge approaches. Our clinical data showcases robust activity, delivering extended progression-free survival and a unique safety profile across challenging cancers to date. As the biopharmaceutical industry excitedly embraces novel T cell engagers, IN8bio is once again redefining the landscape with our innovative INB-600 TCE platform. The preclinical data unveiled at AACR represents a leap forward," said William Ho, CEO & co-founder, IN8bio. "Harnessing our deep expertise, we've engineered a breakthrough technology that achieves picomolar potency, enhances immune surveillance, and potentially mitigates some of the safety risks associated with conventional CD3-targeted TCEs. We're excited to advance this platform into both oncology and autoimmune indications and continue building a differentiated pipeline that promises to reshape the future of medicine."

Corporate Highlights and Recent Developments

Expanded Pipeline with INB-600 Gamma-Delta T Cell Engager Platform

   -- Presented new preclinical data at the 2025 American Association for 
      Cancer Research (AACR) Annual Meeting highlighting the INB-600 platform, 
      including lead candidates INB-619 (targeting CD19) and INB-633 (targeting 
      CD33). 
 
   -- Preclinical studies demonstrated strong, antigen-specific cytotoxicity 
      against leukemia cells and primary B cells with minimal inflammatory 
      cytokine release, potentially addressing key limitations of conventional 
      CD3-based TCEs. 
 
   -- INB-600 TCE platform significantly expands both V 1+ and V 2+ subsets to 
      address the reduced cell counts that have limited earlier <GAMMA> TCE 
      therapies in cancer patients. 
 
   -- Targeted B cell elimination (INB-619) highlights potential applications 
      in B cell--driven autoimmune diseases as well as oncology indications. 

Demonstrated Additional Clinical Progress Across Gamma-Delta T Cell Therapy Pipeline

   -- Presented Positive Phase 1 data (February 2025) for INB-100 (Allogeneic 
      Gamma-Delta T Cell Therapy for High-Risk AML and Leukemias) at the 2025 
      Transplantation & Cellular Therapy (TCT) Annual Meeting showing durable 
      remissions, with 100% of treated AML patients remaining relapse-free with 
      20.1 month median follow-up as of January 17, 2025. 
 
   -- Observed a favorable safety profile, with no cases of cytokine release 
      syndrome $(CRS)$ or neurotoxicity (ICANs) reported to date. 
 
   -- 1-Year Survival Rates Exceeded Real-World Control Groups: The 1-year 
      progression-free survival $(PFS)$ rate across all leukemia patients is 
      90.9% and 1-year overall survival (OS) is 100%, outperforming comparative 
      real-world historical control data obtained from both the Center for 
      International Blood & Marrow Transplant Research (CIBMTR) and from the 
      University of Kansas Cancer Center. 

Participation at Immuno-Oncology 360deg (IO360deg) Conference

   -- William Ho, Chief Executive Officer and co-founder of IN8bio, Co-Chaired 
      Day 2 of the Immuno-Oncology 360deg (IO360deg) Conference on March 25, 
      2025, delivering opening remarks, leading the "State of the IO Market, 
      Investments and Deals Plenary" session, and presenting on the promise of 
      gamma-delta T cell engagers for oncology and autoimmune diseases, 
      including INB-619. 

Upcoming Anticipated Pipeline Milestones and Events

American Society of Clinical Oncology (ASCO) 2025 Annual Meeting (May 30, 2025):

Upcoming oral presentation: "INB-200: Phase 1 Study of Gene-Modified Autologous Gamma-Delta (<GAMMA> ) T Cells in Newly Diagnosed Glioblastoma Multiforme (GBM) Patients Receiving Maintenance Temozolomide (TMZ)" will present updated clinical data from IN8bio's Phase 1 trial of INB-200. The data will be featured in the Central Nervous System Tumors Oral Abstract Session.

International Society for Cell & Gene Therapy (ISCT) 2025 Annual Meeting (May 9, 2025):

Upcoming oral presentation: "From Donor to Therapy: How Robust Manufacturing Shapes the TCR Repertoire and Cytotoxic Power of Donor-Derived Allogeneic ex vivo Expanded and Activated <GAMMA> T Cell Products" will highlight the power of the company's gamma-delta T cell manufacturing platform. The data will demonstrate the TCR diversity, genomic profiling and cytotoxic function of donor-derived clinical gamma-delta T cell therapies. Mariska ter Haak, Senior Director, Analytical Development at IN8bio, will present during the Oral Abstract Session -- Immunotherapy.

Poster Presentation: "Selection and Implementation of the Electronic Quality Management System for High Complexity Clinical Stage Cellular Therapy Company." This will be presented by Guoling Chen, Senior Director, Quality Operations.

American Society of Gene & Cell Therapy (ASGCT) 2025 Annual Meeting (May 17, 2025):

Upcoming oral presentation: "Decoding the Molecular Signature of Expanded Gamma Delta T Cell Products; TCR and Immune Gene Expression from Allogeneic Derived Products" will present new data characterizing the TCR repertoire and immune gene expression profiles of IN8bio's clinical expanded gamma-delta T cell products. This data will show the robustness and reproducibility of the in-house developed manufacturing platform at IN8bio. Mariska ter Haak, Senior Director, Analytical Development, will deliver the presentation at the New Orleans Ernest N. Morial Convention Center.

Poster Presentation: "INB-600: A Novel T Cell Engager Platform Specific for gamma-delta (<GAMMA> ) T cells" will demonstrate the use of the novel CD19 <GAMMA> TCE for driving deep B cell depletion and potential application in autoimmune disease including Lupus. This will be presented by Lawrence Lamb, Ph.D., Co-Founder and Chief Scientific Officer.

First Quarter 2025 Financial Highlights

   -- Research and Development (R&D) expenses: R&D expenses were $3.0 million 
      for the three months ended March 31, 2025, compared with $4.9 million in 
      the prior year. These amounts include non-cash items such as stock-based 
      compensation $(SBC)$ and depreciation. The change was primarily due to 
      decreased but some remaining clinical trial-related activities for the 
      INB-400 program and a decrease in personnel-related costs, in each case 
      as a result of the Company's pipeline prioritization announced in 
      September 2024. 
 
   -- General and administrative (G&A) expenses: G&A expenses were $2.7 million 
      for the three months ended March 31, 2025, compared with $3.7 million for 
      the comparable prior year period. These amounts include non-cash items 
      such as SBC and depreciation. The change was primarily due to cost 
      savings related to personnel-related costs, director and officer 
      insurance premiums and professional services. 
 
   -- Net loss: The company reported a net loss of $5.6 million, or $0.07 per 
      basic and diluted common share, for the three months ended March 31, 
      2025, compared with a net loss of $8.6 million, or $0.20 per basic and 
      diluted common share, for the comparable prior year period. 
 
   -- Cash position: As of March 31, 2025, the Company had cash of $11.9 
      million, compared with $13.0 million for the comparable prior year. 
      Subsequently, in April 2025, the Company received aggregate gross 
      proceeds of $1.9 million from the exercise of its Series A and Series B 
      common stock warrants. 

About IN8bio

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