Immunic Secures Up to $400M to Fund Phase 3 MS Trials and Commercial Launch
Immunic secured $200 million upfront in an oversubscribed private placement priced at-market, with up to $400 million available to complete Phase 3 ENSURE relapsing MS trials and launch a Phase 3 primary progressive MS program. Proceeds will fund an NDA submission by mid-2027 and its transition to a commercial-stage company.
1. Oversubscribed Private Placement Details
Immunic priced an oversubscribed private placement under Nasdaq rules, raising $200 million in upfront proceeds with the option to draw an additional $200 million. The financing was led by BVF Partners and included participation from major institutional investors, securing capital at-market pricing to support the company’s strategic goals.
2. Clinical Development and Funding Allocations
The net proceeds will complete the Phase 3 ENSURE program in relapsing multiple sclerosis, with top-line data expected by year-end and an NDA submission targeted for mid-2027. In parallel, Immunic plans to initiate a Phase 3 trial in primary progressive multiple sclerosis later this year, estimated to run 3.5–4 years, while building its commercial infrastructure.
3. Board Appointments and Leadership Transition
Simona Skerjanec, former Roche SVP, has been elevated to interim Chairperson of the Board and Thor Nagel of BVF Partners has joined as a director. The board has launched a search for a CEO with deep commercial expertise in multiple sclerosis, with Co-Founder Daniel Vitt transitioning to a scientific strategy role.