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- Imugene (IMU) raises $90 million through its placement to funds its programs through to the end of 2025
- The placement received strong support from several specialist biotech institutional investors, who cornerstoned the capital raising
- Under the placement, the company will issue 300 million new shares at 30 cents each
- Additionally, the company is aiming to raise a further $5 million through a share purchase plan
- Just as the market opens, Imugene was trading in the grey at 33 cents per share
Imugene (IMU) has raised $90 million through its placement and plans to raise a further $5 million more.
The clinical-stage immuno-oncology company will issue 300 million new shares at 30 cents each.
The placement received strong support from several specialist biotech institutional investors who cornerstoned the capital raising.
Following the placement is a share purchase plan (SPP) aiming to raise $5 million.
Under the placement and SPP, participants will receive one free option for every two shares subscribed.
Funds from the raise will be used for Imugene’s range of programs through to the end of 2025. This includes trials for HER-Vaxx, PD-1-Vaxx, CHECKvacc, Vaxinia and OnCARlytics, as well as associated manufacturing, regulatory and working
capital costs.
CEO Paul Hopper said the capital raising is a “game changer” for Imugene.
“It’s a credit to the groundwork done by Leslie and the rest of the team in recent years. We’ve been able to attract some high quality, specialist shareholders in the life sciences sector, and I’d like to welcome those new shareholders as well as thanking our existing shareholders for their continued support.”
Just as the market opens, Imugene was trading in the grey at 33 cents per share at 10:03 am AEST.
