Imugene Limited (ASX: IMU), an immune-oncology company is pleased to announce that is has signed underwriting agreements with three existing institutional shareholders of IMU to underwrite up to A$1.35 million of options as part of the Company’s option plan which expires on 31st March 2017.
- The agreed issue price for any shares issued under the underwriting agreements is 1.5 cents per share (being the same as the exercise price of the options) and the total underwriting fee is approximately 3.8% of the total underwritten amount (approx. $51,000).
- The underwriters are Platinum Investment Management Limited, Private Portfolio Managers and Celtic Capital, all existing and continued strong supporters of IMU over time.
IMU’s CEO, Leslie Chong said today “we are encouraged that such prominent shareholders have agreed to further increase their support and dedication by investing in Imugene. Funds raised from the options will be applied to continue our clinical development of HER-Vaxx and the pre-clinical work associated with the mimotope program.”
Imugene is an immuno-oncology focused biopharmaceutical company, developing HER-Vaxx, a B Cell peptide vaccine for the treatment of gastric, ovarian, lung and pancreatic cancers.