• $22.5 million placement to new Australian and International institutional and sophisticated investors
• Share Purchase Plan (SPP) to raise up to a further $15 million
• Proceeds to fund azer-cel program through to initiating a pivotal clinical trial in CY26

Imugene Limited (ASX:IMU), a clinical stage immuno-oncology company, has received firm commitments for a $22.5 million placement of 68.2 million new shares at $0.33 per share to new Australian and International institutional and sophisticated investors. The company is also launching a Share Purchase Plan (SPP) to raise up to a further $15 million at the same price, for existing eligible shareholders. Participants in the placement and SPP will receive three free attaching listed options for every four new shares subscribed, with an exercise price of $0.43 and expiration of 30 March 2026. Upon exercise of every one of these free attaching options, participants will also receive one additional listed option, with an exercise price of $0.86 and an expiration of 30 June 2028. The proceeds of the capital raising will primarily be used to fund the azer-cel program through to initiating a pivotal clinical trial in CY26. Post completion of the offer, Imugene will have a pro-forma cash balance of $64 million, providing funding into the second half of CY26. The potential exercise of the attaching options provides for up to a further $36.6 million of near-term funding to the company, extending the cash runway into mid CY27.

The company expects to have funding into the second half of CY26 post the offer, with the potential exercise of the attaching options providing up to a further $36.6 million of near-term funding, extending the cash runway into mid CY27.

The capital raising will primarily be used to fund the azer-cel program through to initiating a pivotal clinical trial in CY26, positioning the company for potential future growth and value creation.