Immunic Therapeutics, a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases, announced the closing of an underwritten public offering of 4,500,000 shares of its common stock at a public offering price of 10.00 US-dollars per share. The Company received total proceeds from the offering, before deducting the underwriting discounts and other offering expenses, of 45 million US-dollars. Piper Sandler acted as sole book-runner for the offering. Ladenburg Thalmann & Co. Inc., Roth Capital Partners and Aegis Capital Corp. acted as co-managers. Immunic intends to use the net proceeds of the offering to fund the ongoing clinical development of its three lead product candidates, IMU-838, IMU-935 and IMU-856, and for other general corporate purposes.

Dr. Daniel Vitt, CEO and President of Immunic: “This successful capital raise creates the best conditions for continued development of our product candidates, in particular, for the upcoming initiation of our phase 3 program of IMU-838 in multiple sclerosis, and it puts us in a strong position ahead of an eventful first half of 2022 with multiple clinical milestones.”