Imugene Completes $11.1 Million Placement to Advance azer-cel
Key points
- $11.1 million raised through placement to fund clinical and regulatory milestones
- Positive early clinical results for azer-cel in BTKi combination cohort
- Strong support from institutional investors including a global pharmaceutical company
Full summary
Imugene Limited (ASX: IMU) has completed a placement to raise approximately $11.12 million (before costs) via the issuance of 117.1 million new fully paid ordinary shares at an issue price of $0.095 per share. The funds will be used to advance azer-cel, the company's lead asset, through key clinical and regulatory milestones, and for general working capital. The placement was strongly supported by both existing and new institutional investors, including a global, commercial-stage biopharmaceutical company. Positive early clinical data from the BTKi combination cohort (Cohort 3) of the ongoing Phase 1b trial have shown complete responses in two evaluable patients, strengthening the clinical rationale for azer-cel in patients with disease progression following BTKi therapy.
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