Immunic closes $200 million private placement financing

Immunic Inc. (NASDAQ: IMUX) announced the completion of a private placement financing that raised $200 million in upfront proceeds, with potential for an additional $200 million.

The financing was led by BVF Partners L.P. and included participation from Aberdeen Investments, Avidity Partners, Coastlands Capital, EcoR1 Capital, Janus Henderson Investors, OrbiMed, RA Capital Management, TCGX, Trails Edge Capital Partners, Vivo Capital, Woodline Partners LP, and other institutional investors.

Under the securities purchase agreement, Immunic issued 229,076,000 pre-funded warrants at $0.873 per warrant for the initial $200 million. The company also issued warrants to purchase up to 229,076,000 additional shares at $0.873 per share, which could generate up to $200 million more in proceeds. These warrants expire either 30 days after public announcement of top-line data from the phase 3 ENSURE trials or February 17, 2031, whichever comes first.

Immunic stated it plans to use the proceeds to fund clinical trials and operations, with the upfront proceeds combined with current cash expected to fund operations into late 2027. The company is developing vidofludimus calcium for relapsing multiple sclerosis, with top-line phase 3 data expected by the end of 2026.

Leerink Partners served as lead placement agent, with Stifel, Guggenheim Securities, William Blair, LifeSci Capital, B. Riley Securities and Brookline Capital Markets also acting as placement agents.

The securities were not registered under the Securities Act of 1933 and may not be offered or sold in the United States without SEC registration or an applicable exemption.

You May Also Be Interested In

• uniQure prices $225 million public offering at $45.50 per share
• Creatd files Form S-1 and reports Q1 2026 financial results
• CVG to join Russell 2000 and Russell 3000 indexes June 26