Proactive Investors - Run By Investors For Investors

Imugene raises $3M from option plan to advance immunotherapy studies

Imugene is developing an immunotherapy to treat gastric cancer.
Imugene raises $3M from option plan to advance immunotherapy studies
Immuno-oncology is a highly promising field

Imugene (ASX:IMU) has raised circa $3 million as part of an option plan which expired on 31 March 2017, at a price of $0.015 per share.

The new capital places Imugene in a solid position to continue the development of its clinical candidate, HER-Vaxx.

HER-Vaxx is a cancer immunotherapy designed to treat HER-2 positive gastric cancer, a cancer with increased levels of a growth-promoting protein called the HER-2 receptor.

Immuno-oncology is a relatively new but highly promising field that uses the method of activating a patient's immune system against tumour growth.

Imugene’s three prominent existing shareholders, Private Portfolio Managers, Platinum Asset Management and Celtic Capital, have increased their investment in Imugene via their roles as underwriters to the plan.

In January 2016, Imugene announced a new partnership with the Medical University of Vienna to discover and develop mimotope-based immunotherapies against validated and new oncology targets.

This partnership has the potential to create B Cell peptide vaccines that would replace or augment conventional monoclonal antibodies.

Importantly, Imugene filed four new patent applications with IP Australia in December 2016 related to mimotope B-cell vaccine compositions.

The company’s share price increased circa 78% during the past six months, last trading at $0.016.

View full IMU profile View Profile

Imugene Ltd Timeline

Related Articles

February 21 2019
Earlier this month, Tissue Regenix reported full-year results showing revenues more than doubled last year to £11.6mln, up from £5.2mln a year earlier
scientist in laboratory
May 24 2019
Here we take a closer look at healthcare investor NetScientific PLC (LON:NSCI)
February 26 2019
Immunotherapy treatment Clevegen is on phase I/II trial (MATINS) for metastatic tumours

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use