On January 29, 2025 Imugene Limited (ASX:IMU), a clinical-stage immuno-oncology company, reported that it has received A$20 million from the issuance of senior, unsecured, zero-coupon convertible notes to CVI Investments, Inc (Press release, Imugene, JAN 29, 2025, https://mcusercontent.com/e38c43331936a9627acb6427c/files/e589213b-3647-e75b-54a9-d992df0585cc/Imugene_Receives_A_20_million_for_Convertible_Notes_Issuance.pdf [SID1234649910]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

This funding represents the first tranche of a total A$46 million capital raising announced on 23 December 2024, comprising convertible notes and associated unlisted warrants. The proceeds from this initial tranche will be directed toward advancing Imugene’s immuno-oncology clinical trial pipeline, including azer-cel, onCARlytics, and VAXINIA programs.

The convertible notes, with a five-year maturity, provide significant flexibility for Imugene, with no interest costs and potential semi-annual conversion to ordinary shares at a premium to the Company’s market price.