Immunic raises $103.5 million for immunology

Country

Germany

Immunic Inc, which is co-located in the US and Germany, has raised gross proceeds of $103.5 million to support development of its pipeline of small molecule immunology drugs, the most advanced of which is being investigated for relapsing-remitting multiple sclerosis. The underwritten public offering of 5.75 million shares was priced at $18 per share, a discount from its closing price on Nasdaq on 4 August of $19.43.

SVB Leerink was the bookrunning manager for the offering. Wedbush PacGrow and Ladenburg Thalmann acted as co-managers.