Imugene (ASX:IMU) has announced that it has secured firm commitments to raise approximately $11.12 million through a placement of about 117.1 million new ordinary shares at $0.095 per share.
The company said the funds raised will go towards the development of its lead allogeneic CAR T therapy, azer-cel, into calendar year 2027, including clinical and regulatory activities, manufacturing scale-up and general working capital.
The raise has a two-tranche structure. Tranche 1 is raising $7 million under the company's placement capacity. Tranche 2 is raising $4.1 million through a Directors' placement, subject to shareholder approval at an extraordinary general meeting.
Bell Potter Securities acted as lead manager and bookrunner.
The company reported that the first two evaluable patients in the concurrent BTKi combination cohort both achieved complete responses, including a BTKi-refractory Follicular Lymphoma patient who had a complete response at Day 28 and the first Mantle Cell Lymphoma patient in the study, who also achieved a complete response.
Managing Director and Chief Executive Officer Leslie Chong said, "The first two evaluable patients in our concurrent BTKi combination cohort have both achieved complete responses, providing a strong early clinical signal for azer-cel in a therapeutic class worth more than US$12 billion annually. This Placement funds a series of important clinical data readouts over the next 6–12 months, including presentations at ASH and ASCO, while supporting our ongoing business development activities and continued discussions with potential pharmaceutical partners. We thank our shareholders, new investors and Directors for their ongoing support as we advance azer-cel towards a registrational pathway."
