News and Announcements
Imugene Announces New Strategic Partnership with the Baker Institute
- Published February 28, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Imugene Limited (ASX:IMU) incurred expenditure of $2.27m, which was offset in large part by an expected rebate of $0.77m under the Australian Governments R&D tax incentive scheme. The majority of expense, being $1.65m, were incurred on research and development, with the balance being payroll and administration costs.
KEY TAKEAWAYS:
- New strategic partnerships with the Baker Institute investigating the opportunities for small molecules in immune-oncology.
- Four new mimotope patents filed to expand Imugene pipeline into B-cell vaccine compositions and franchise.
- Successful $3.2M private placement with sophisticated and institutional investors.
- Cash and cash equivalents 31 December 2016: Up 41% on pcp to $3.8M.
- Phase 1b/2 trial in patients with metastatic gastric cancer to recruit in 2017.
- Loss for the 6 months to 31 December 2016: Up 45.00% on previous comparable period (‘pcp’) to $1.49M.
Imugene is a clinical stage immuno-oncology company headquartered in Melbourne, Australia. Its lead product is HER-Vaxx, a B Cell peptide vaccine for the treatment of gastric cancer. The company is also developing mimotope-based immunotherapies against validated and new oncology targets.
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