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.