Skip to main content

Immunomic Therapeutics builds coronavirus vaccine, plots IPO – Washington Business Journal

By April 6, 2020News
Immunomic Therapeutics builds coronavirus vaccine plots IPO Washington Business Journal

Immunomic Therapeutics builds coronavirus vaccine plots IPO Washington Business Journal

Immunomic Therapeutics Inc. is pivoting, as many are, in this new era to work on a vaccine for the novel coronavirus. But it’s also pursuing goals that would be considered ambitious even before the world changed: It’s closing in on a $50 million raise, advancing its brain cancer program — and positioning itself for an initial public offering.

The Rockville vaccine maker secured the first $10 million of this latest fundraising round at the end of January from Korean investment group HLB, and it expects to close on another $40 million-plus in the next couple of weeks, said Bill Hearl, founder and CEO of ITI. That capital would support the immuno-oncology company’s therapy for glioblastoma, an aggressive brain cancer, now heading into a phase 2 clinical trial after a successful phase 1 study that extended the typical 14- to 16-month median survival rate to 41 months.

Image: Bill Hearl is CEO and founder of Immunomic Therapeutics in Rockville. COURTESY IMMUNOMIC THERAPEUTICS

{iframe}https://www.bizjournals.com/washington/news/2020/04/02/exclusive-rockville-bio-raising-50m-building-covid.html?b=1585853516%5E21649074{/iframe}

Leave a Reply

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

BioHealth Innovation will use the information you provide on this form to be in touch with you and to provide updates and marketing.