Immunic Raises $200M, Appoints New CMO and Eyes MS Phase 3 Data
Immunic raised $200 million in an oversubscribed private placement, with potential for an additional $200 million, to fund its Phase 3 ENSURE trials and planned mid-2027 NDA submission. The company appointed Michael A. Panzara as Chief Medical Officer and expects top-line data from its Phase 3 ENSURE trials by year-end 2026.
1. First Quarter Financial Update and Financing
For the quarter ended March 31, Immunic closed an oversubscribed private placement that raised $200 million, with the option to secure up to $400 million in gross proceeds. These funds are earmarked to support the completion of twin Phase 3 ENSURE trials in relapsing multiple sclerosis and the planned New Drug Application submission in mid-2027.
2. Leadership Appointments and Board Enhancements
In April, the company appointed Michael A. Panzara, M.D., M.P.H., as Chief Medical Officer, bringing deep expertise in neurology and late-stage clinical development. The board was further strengthened by elevating Simona Skerjanec to interim Chairperson and adding biopharma veteran Jon Congleton and Thor Nagel to guide corporate governance.
3. Phase 3 ENSURE Trial Progress and Expectations
Immunic’s lead asset, vidofludimus calcium, is undergoing twin ENSURE trials targeting relapsing MS, with top-line data expected by the end of 2026. The therapy aims to combine neuroprotective Nurr1 activation with selective DHODH inhibition, potentially differentiating it from existing oral MS treatments.
4. Strategic Outlook and Pipeline Expansion
Proceeds from the financing will fund operations through the ENSURE trials and anticipated U.S. NDA in mid-2027, positioning the company for commercial transition. Immunic also plans to initiate a confirmatory Phase 3 program in primary progressive MS later this year, leveraging positive Phase 2 CALLIPER data.