Immutep Limited today announces the successful completion of an A$80 million capital raise to support its late-stage and expanding clinical development pipeline.
Media Release
SYDNEY, AUSTRALIA, June 27, 2023 (GLOBE NEWSWIRE) -- Immutep (Formerly known as Prima Biomed) Limited (ASX: IMM; NASDAQ: IMMP) (“Immutep” or “the Company”), a clinical-stage biotechnology company developing novel LAG-3 immunotherapies for cancer and autoimmune diseases, today announces the successful completion of an A$80 million capital raise to support its late-stage and expanding clinical development pipeline. With this new capital, Immutep believes it is fully funded for its current and expanded clinical program through to Q1 CY2026 with a pro-forma cash balance of A$135.2 million (US$90.6 million).1
Dr. Russell Howard, Chairman of Immutep, said, “These funds will help us further our mission to unlock the power of the immune system to fight cancer and autoimmune disease, including advancing eftilagimod alpha into a new registrational Phase III trial in lung cancer, and supporting its late-stage trials in head and neck cancer and metastatic and triple negative breast cancer, to final data and Phase II read-outs, respectively. We’ll also be able to expand eftilagimod alpha into new settings and potentially conduct a first-in-human Phase I trial for IMP761, the world’s first and only LAG-3 agonist, for autoimmune diseases. Our path forward has never been so exciting.”
About Immutep
Immutep is a clinical stage biotechnology company developing novel LAG-3 immunotherapy for cancer and autoimmune disease. We are pioneers in the understanding and advancement of therapeutics related to Lymphocyte Activation Gene-3 (LAG-3), and our diversified product portfolio harnesses its unique ability to stimulate or suppress the immune response. Immutep is dedicated to leveraging its expertise to bring innovative treatment options to market for patients in need and to maximise value for shareholders. For more information, please visit www.immutep.com.
U.S. Investors/Media:
Chris Basta, VP, Investor Relations and Corporate Communications
+1 (631) 318 4000; chris.basta@immutep.com
This Media Release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities sold in Immutep’s capital raise discussed in this Media Release have not been, and will not be, registered under the U.S. Securities Act of 1933 (the Securities Act) or the securities laws of any state or other jurisdiction of the United States, Such securities may not be offered or sold in the United States except in a transaction registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securitieslaws.
1 Based on cash balance as at 31 March 2023 and completion of an A$80m capital raising, excluding offer costs.
