Immunic Inc. (NASDAQ: IMUX) has completed a registered direct offering, raising approximately $5.1 million to support its ongoing clinical research and corporate operations. The biotechnology company sold 5,666,667 shares of common stock at $0.90 per share, with Aberdeen Investments leading the offering and Titan Partners Group serving as the sole placement agent.
The funding will primarily support Immunic's clinical pipeline of orally administered small molecule therapies targeting chronic inflammatory and autoimmune diseases. The company's lead development program, vidofludimus calcium (IMU-838), is currently in phase 3 and phase 2 clinical trials for multiple sclerosis treatment and has demonstrated therapeutic potential in previous studies.
In addition to its lead program, Immunic is developing IMU-856, which targets the Sirtuin 6 protein to potentially restore intestinal barrier function. The company is also conducting preclinical testing on IMU-381, a next-generation molecule aimed at addressing gastrointestinal diseases.
This capital raise represents a strategic move for Immunic to advance its research and development efforts in developing innovative therapies for complex medical conditions. The funding will enable the company to continue its clinical trials and progress its therapeutic pipeline, potentially offering new treatment options for patients with inflammatory and autoimmune disorders.
