INmune Bio is a clinical-stage biotech developing treatments that work through the innate immune system. Its lead program, CORDStrom, is an off-the-shelf, allogeneic cell therapy derived from pooled umbilical cord tissue, given intravenously to treat RDEB, a severe pediatric genetic disease that causes chronic blistering, open wounds, and scarring across the skin and internal organs. There are no approved systemic treatments for RDEB — approved products are topical only — and CORDStrom's systemic mechanism addresses itch, pain, skin integrity, and internal disease manifestations that topical therapies cannot reach. INmune Bio completed a randomized, placebo-controlled crossover trial in 30 pediatric RDEB patients in the U.K. and is now preparing regulatory submissions, with planned filings to the MHRA, EMA, and FDA in 2026. If FDA approval is secured by September 30, 2029, INmune Bio is eligible for a Priority Review Voucher, which has historically sold for $100M–$200M. Post-approval revenue would come from selling CORDStrom to specialist pediatric centers; given the ultra-rare patient population of roughly 2,000 in the U.S., U.K., and EU combined, volumes will be limited, but management argues its manufacturing model supports low cost of goods and healthy margins. INmune Bio also has two other clinical programs: XPro1595, a neuroinflammation-targeting therapy for Alzheimer's disease for which it is seeking a partner to fund further development, and INKmune, an NK cell-priming oncology program that the company does not plan to advance independently. INmune Bio is pre-revenue and currently funded through equity issuances.