Gräfelfing/Munich, October 23rd, 2020 – FCF Fox Corporate Finance acts as advisor to Immunic, a biotechnology company specialized on immunology therapies, in the execution of a venture loan financing with the European Investment Bank (EIB).
A funding volume of up to EUR 24.5 million from the European Investment Bank will support Immunic’s clinical development program for its COVID-19 drug candidate IMU-838, which is currently being tested on efficacy, safety and tolerability in an ongoing Phase 2 study in patients with moderate COVID-19 symptoms. Additionally, the funds will be used to further support a phase 3 study in COVID-19 as well as the commercial production of IMU-838.
“In the public debate on COVID-19, the current focus is mainly on the development of vaccines. In this regard, therapeutics treating the viral infection and its associated health complications are of crucial importance to contain the pandemic,” explains Dr. Mathias Schott, Head of FCF Life Sciences. “Based on our long-standing relationship, we are pleased to convince the European Investment Bank of making this important investment, while at the same time successfully securing additional funding for Immunic’s ongoing clinical development program in COVID-19.”
Dr. Daniel Vitt, CEO and President of Immunic, commented: “The financing is a great success for Immunic as it provides us with additional funds for our research on the most advanced drug candidate, IMU-838, for the treatment of COVID-19. We would like to thank FCF and the team around Mathias Schott for the highly professional and committed consultancy to realize this project.”
The venture loan is financed under the “InnoFin – Infectious Diseases Finance Facility” program, set up as part of the European Union’s Horizon 2020 Program. This facility finances innovative companies developing new vaccines, drugs, medical or diagnostic equipment or build new infrastructure for research for infectious diseases applications.
ABOUT FCF FOX CORPORATE FINANCE
FCF is a specialized Investment Bank and Financing Specialist, advising public and private small/mid-market companies in the German speaking regions.FCF focuses on four primary client segments:
- MidCap: Medium-sized companies with sustainable business models in typical “Mittelstand” industries, such as industrial products and machinery, automotive, communications, logistics, and consumer products
- SmallCap / Growth: Companies with revenues between €20 and €100 million and high / above average growth rates
- DeepTech: R&D-driven companies in technology sectors, entering the commercialization stage with initial fast-growing revenues
- Life Sciences: Highly innovative companies focusing on the development of cutting-edge biotechnology, med-tech, health-tech and pharmaceuticals solutions
FCF structures, arranges and places equity and debt capital transactions and supports its clients’ growth, IPO/Pre-IPO, acquisition and standard balance sheet (re-)financing strategies.
Founded in 2005 and headquartered in Munich, FCF has direct relationships and works with all leading German, European and international financiers, lenders and investment houses addressing German small/mid-cap companies.
Immunic, Inc. is a clinical-stage biotechnology company with a pipeline of selective, orally available immunology therapies for the treatment of chronic inflammatory and autoimmune diseases. Immunic, Inc. is headquartered in New York. The subsidiary Immunic AG is located in Gräfelfing near Munich, where the company’s research and development activities are conducted. Further subsidiaries are located in Halle/Saale, Germany and Melbourne, Australia
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