Immutep (ASX:IMM) completes $12 million placement

Company News

by Rachael Jones

Biotech company Immutep (ASX:IMM) has today successfully completed a $12 million placement to professional, institutional and sophisticated investors.

Readouts from their TACTI-002 phase II trial showed an improved overall response rate of 53 per cent in 1st line lung cancer patients receiving efti as part of a combination treatment with Merck´s Keytruda.

This compares very favourably to an overall response rate of 20% for patients receiving Keytruda alone in historical trials.

The Company will use the proceeds received from the Placement to finance its LAG-3 related clinical program in immuno-oncology and autoimmune disease.

This includes the ongoing clinical development of eftilagimod alpha (“efti” or “IMP321”), the cell-line development of IMP761, R&D, manufacturing and general corporate purposes.

Shares in Immutep (ASX:IMM) are trading 2.86 per cent higher to 18 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.