SCHEDULE: Vivo Capital Discloses 21.7% Stake in InMed Pharmaceuticals

Vivo Opportunity Fund Holdings and affiliates have disclosed a 21.7% beneficial ownership stake in InMed Pharmaceuticals following a merger announcement.

Summary

• Vivo Opportunity Fund Holdings, L.P. and related entities have filed a Schedule 13D disclosing a 21.7% ownership stake in InMed Pharmaceuticals Inc.
• The stake consists of 718,444 common shares held by Vivo Opportunity Fund Holdings, L.P. and 72,535 shares held by Vivo Opportunity Cayman Fund, L.P.
• The acquisition of these shares occurred on the open market between May 19, 2026, and June 8, 2026.
• The investment follows the announcement of a merger agreement between InMed Pharmaceuticals and Mentari Therapeutics, Inc.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive signal of institutional confidence in the upcoming merger and the long-term value proposition of the combined entity.

Positives

• Significant institutional backing from a specialized biotechnology investment firm.
• The reporting persons have expressed that the shares are held for investment purposes, signaling confidence in the company's strategic direction.

Negatives

• The concentration of ownership may limit liquidity for other shareholders.
• The investment is tied to the successful completion of the complex merger and reorganization with Mentari Therapeutics.

Risks

• The investment is contingent upon the satisfaction of conditions set forth in the Merger Agreement with Mentari Therapeutics.
• Market volatility associated with the biotechnology sector could impact the value of the holdings.
• The pre-closing financing of Mentari Therapeutics is conditioned upon the closing of the overall merger.

Future Outlook

The reporting persons intend to hold the shares for investment purposes and are participating in a pre-closing financing of Mentari Therapeutics, which will convert into InMed common shares upon the successful closing of the merger.

Management Comments

• The reporting persons certify that the information set forth in the statement is true, complete, and correct.

Industry Context

StockSavvy.ai notes that this filing reflects a common trend in the biotech sector where specialized investment firms increase their positions in companies undergoing M&A activity to capitalize on potential synergies and pipeline expansion.

Comparison to Industry Standards

• The 21.7% stake is a significant block, typical of activist or long-term institutional investors in small-cap biotech firms.
• The use of a Schedule 13D is standard practice for investors exceeding the 5% ownership threshold in public companies.

Stakeholder Impact

• Shareholders may see increased volatility or price support due to the significant accumulation of shares by an institutional investor.
• The merger process will fundamentally change the capital structure of the company.

Next Steps

• Completion of the merger between InMed Pharmaceuticals and Mentari Therapeutics.
• Conversion of Mentari common stock into InMed common shares upon the effective time of the merger.

Key Dates

Recommendation

The significant accumulation of shares by a specialized biotech fund suggests institutional belief in the merger's success, but investors should remain cautious until the merger conditions are fully satisfied.

Keywords

InMed Pharmaceuticals, Vivo Capital, Schedule 13D, Merger, Biotechnology, Mentari Therapeutics, Equity Investment