Immune Pharmaceuticals Secures $11 Million in New Financing

Immune Pharmaceuticals (NASDAQ: IMNP) has announced that it has secured significant new financing: $11 million from an existing investor.
According to the press release:

The financing includes the sale of a $1 millionconvertible note and up to $10 million in future equity sales at prevailing market prices in increments of at least $1 million per month.

Immune’s CEO, Dr. Daniel Teper, said the following:

“We appreciate the continuous commitment of our investors to support this financing of Immune, which will be dedicated to the advancement of bertilimumab clinical development. We are also implementing a strategy to unlock the value of other assets through the establishment of new, privately-funded companies which will be partially owned by Immune.”

Read the full press release here.