IMCR - Immunocore to raise $140M in private placement financing
- Immunocore ( NASDAQ: IMCR ) agreed to sell 3.7M shares, consisting of 2M ADSs with each ADS representing one ordinary share, and 1.7M non-voting ordinary shares, to certain institutional accredited investors through a private investment in public equity financing at a price per ADS/non-voting ordinary share of $37.50.
- The PIPE financing included participation from existing investors including RTW Investments, LP, Rock Springs Capital, and General Atlantic.
- Net proceeds to be used for funding its oncology and infectious disease clinical pipeline including the continued clinical development of tebentafusp in advanced cutaneous melanoma and ImmTAC clinical candidates targeting MAGE-A4 and PRAME.
- Offer closing is expected to occur on or about July 20, 2022.
- "The proceeds from the private placement, combined with anticipated KIMMTRAK revenue in metastatic uveal melanoma, and cash on hand are expected to fund our current operating plan through 2025," CFO & Head of Strategy Brian Di Donato commented.
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Immunocore to raise $140M in private placement financing