Immutep Limited (ASX: IMM) has undertaken a successful capital raising to raise approximately $80 million.
The Placement and institutional component of the Entitlement Offer were successfully completed, raising approximately $67.9 million.
A now closed Retail Entitlement Offer raised approximately A$6.5 million, representing a total take-up rate by Eligible Retail Shareholders of 52.9%.
Together with the Placement and the institutional component of the Entitlement Offer, the total amount raised under the Offer, which was fully underwritten, is approximately A$80 million.
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,” Dr Russell Howard, Chairman of Immutep, said.
“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.”
As announced to ASX on Wednesday, 31 May 2023, the Retail Entitlement Offer was fully underwritten by Bell Potter Securities Limited, Wilsons Corporate Finance Limited and Jefferies (Australia) Pty Ltd.