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Immunomic Therapeutics Closes $3 Million Debt Pre-Series B Round


7/17/2013 10:17:16 AM

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HERSHEY, Pa.--(BUSINESS WIRE)--Immunomic Therapeutics, Inc. (ITI) announced the completion of a $3 million debt financing round in advance of a Series B round planned for later this year. The pre-B investment was initially planned for $2 million but was over-subscribed due to demand by a combination of existing shareholders and new investors from the Keiretsu Forum chapters on the west coast. The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) continues to be the Company’s lead investor but it also has received strong support from its core of private angel investors. The round will provide sufficient capital to bridge the Company’s continued clinical development of its lead allergy product targeting cedar pollen, to establish its process development laboratory in Hershey and to advance ITI’s exciting new peanut allergy vaccine into Phase I.

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