Immutep Limited (ASX: IMM; NASDAQ: IMMP) (“Immutep“or the”Company“) is pleased to announce that it has finalized the second tranche of its institutional placement (Placement), the details of which were announced to the market on June 21, 2021. The second tranche of the Placement comprises the issuance of 88,970,717 new fully paid ordinary shares of the Company (Shares Tranche 2) at an issue price of AU $ 0.52 per Tranche 2 share to raise approximately AU $ 46.3 million. The issuance of these shares was as approved by the shareholders of the Company at its Extraordinary General Meeting held on July 26, 2021.
The net proceeds of the now completed A $ 60 million two-tranche offering and the recently completed share purchase plan (SPP) which raised A $ 7.2 million (details of which were announced to ASX on July 21, 2021) brings the total funds raised under the placement and the SPP to approximately A $ 67.2 million . These funds will be used to support Immutep’s ongoing and planned clinical development programs in immuno-oncology, its preclinical program in autoimmune diseases and for general working capital purposes.
Commenting on the finalization of the funding, CEO Marc Voigt said: “We are very pleased to have the continued support of our shareholders for this funding, including several existing institutional shareholders from Australia and overseas such as Firetrail Investments, Regal Funds Management, Karst Peak Capital, IFM Investors and Acorn Capital and are also delighted to welcome new investors to our register, including global institutional investor, Fidelity International, who is joining us as a significant shareholder. “
“Immutep now has around A $ 114 million in cash, giving us the financial strength to transform into late stage biotechnology by expanding our efti clinical development portfolio, ramping up manufacturing and advancing regulatory engagement. These activities will significantly strengthen our strategic options. We continue to be recognized for our leadership in the promising area of LAG-3 immunotherapy and we are very excited about the way forward for Immutep, ”he concluded.
The Tranche 2 Shares were issued today and will begin trading on the ASX on Monday, August 2, 2021.
This announcement has been authorized for publication by the Board of Directors of Immutep Limited.
Immutep is a globally active biotechnology company, a leader in the development of immunotherapeutic products related to LAG-3 for the treatment of cancer and autoimmune diseases. Immutep is committed to leveraging its technology and expertise to bring innovative treatment options to market for patients and maximize shareholder value. Immutep is listed on the Australian Securities Exchange (IMM) and NASDAQ (IMMP) in the United States.
Immutep’s current lead product candidate is eftilagimod alpha (“efti” or “IMP321”), a soluble LAG-3 protein, which is a first-class antigen-presenting cell (APC) activator currently being explored in the world. cancer and infectious diseases. Immutep is also developing an LAG-3 agonist (IMP761) for autoimmune diseases.
Other LAG-3 products, including antibodies for modulating the immune response, are under development by Immutep’s major pharmaceutical partners.
Further information is available on the Company’s website www.immutep.com.
 Pro forma cash balance based on Immutep’s cash balance as of June 30, 2021 plus the gross proceeds from the issue of SPP and Tranche 2 Shares.