Immunic Inc. Secures $5.1 Million in Registered Direct Offering to Advance Multiple Sclerosis Research

Biotechnology company Immunic Inc. has successfully closed a registered direct offering, raising $5.1 million to further its clinical development programs focused on treating chronic inflammatory and autoimmune diseases. The offering, led by Aberdeen Investments, involved the sale of 5,666,667 shares of common stock at $0.90 per share.

The funding will primarily support the company's advanced clinical trials for vidofludimus calcium (IMU-838), its lead development program targeting multiple sclerosis. Currently in phase 2 and phase 3 clinical trials, the drug has demonstrated promising therapeutic activity in patients with relapsing-remitting and progressive multiple sclerosis, as well as ulcerative colitis.

Vidofludimus calcium represents a novel therapeutic approach, functioning as a first-in-class nuclear receptor related 1 (Nurr1) activator. The drug combines neuroprotective effects with anti-inflammatory and anti-viral properties by selectively inhibiting the enzyme dihydroorotate dehydrogenase (DHODH).

In addition to its multiple sclerosis research, Immunic is developing other promising therapeutic candidates. IMU-856, targeting the Sirtuin 6 protein, aims to restore intestinal barrier function and regenerate bowel epithelium. This potential treatment could have applications in various gastrointestinal conditions, including celiac disease, inflammatory bowel disease, and graft-versus-host disease.

The company is also advancing IMU-381, a next-generation molecule currently in preclinical testing, specifically designed to address gastrointestinal disease challenges. Titan Partners Group, a division of American Capital Partners, served as the sole placement agent for this financial offering.

The successful capital raise underscores Immunic's commitment to developing innovative oral therapies for complex inflammatory and autoimmune disorders. By securing additional funding, the company can continue its research and development efforts, potentially bringing breakthrough treatments closer to patients suffering from these challenging medical conditions.