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Immtech International, Inc. (IMM) Completes Public Offering


10/19/2005 5:11:19 PM

VERNON HILLS, Ill., Aug. 4 /PRNewswire-FirstCall/ -- Immtech International, Inc. today announced that the previously announced underwritten public offering of 899,999 shares of the Company's common stock, including the underwriter's entire over-allotment option, closed on July 30, 2004. All of the shares were sold by the Company to institutional investors, and gross proceeds to the Company were approximately $9.2 million.

Jefferies & Company, Inc. acted as the sole book-running manager and underwriter of this offering. The offering of the shares was made only by means of a prospectus, a copy of which can be obtained from Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, New York 10022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Immtech International, Inc. is a pharmaceutical company advancing the development and commercialization of oral drugs to treat infectious diseases and neoplastic (cancer) and metabolic (diabetes) disorders. We are developing treatments for fungal infections, malaria, tuberculosis, cancer, diabetes, Pneumocystis carinii pneumonia ("PCP") and tropical diseases, including African sleeping sickness (trypanosomiasis) and leishmaniasis. We have a worldwide, exclusive license to commercialize a dicationic pharmaceutical platform from which a pipeline of products may be developed to target large, global markets.

"Safe Harbor" Statement under the Private Securities Reform Act of 1995: Statements in this press release regarding Immtech International, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K/A for the most recently ended fiscal year.

Immtech International, Inc.

CONTACT: F. C. Thompson, 1-877-898-8038, for Immtech International,Inc.


Read at BioSpace.com


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