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Immune Pharmaceuticals Secures $11 Million in New Financing
Nov. 17, 2016 07:39AM PST
Pharmaceutical InvestingImmune Pharmaceuticals has announced that it has secured significant new financing: $11 million from an existing investor.
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.”
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