Liminatus Pharma agreed to acquire InnocsAI in a share-based deal valued at about $320 million, positioning the purchase around InnocsAI’s autologous CD19xCD22 bivalent CAR-T platform IBC101. The therapy is designed for relapsed or refractory B-cell malignancies and has already received clearance to start a Phase 1/2 study at a hospital in Korea. The reported structure also includes a contingent value right tied to future asset sale or licensing proceeds, and the pipeline includes an additional preclinical bicistronic CAR-T concept that integrates mesothelin and B7-H3 signals. Liminatus said IBC101 fits its broader intent to build oncology immunotherapy capabilities as it continues advancing other assets. —