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Wednesday, 28 June 2023
Immutep completes AUD 80 million capital raise
Sydney, Australia, June 28, 2023 - Immutep 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 AUD 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 AUD 135.2 million (USD 90.6 million).
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.”
Based on cash balance as at 31 March 2023 and completion of an AUD 80m capital raising, excluding offer costs.
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.