45 million US-dollar for Immunic

The biotech company intends to use the funds to finance the ongoing clinical development of its three lead product candidates.

Dr Daniel Vitt Immunic

Dr. Daniel Vitt, CEO Immunic Therapeutics

“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.”

Dr. Daniel Vitt
CEO and President of Immunic

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.”