Immunomic Therapeutics, Inc. announced it received $77,728,230 in funding as part of a closed transaction. The funding round included participation from Sonid Inc., HLB GLOBAL Co., Ltd., HLB Co., Ltd., and three additional investors (six investors in total). The company closed the transaction and amended the terms on January 14, 2021. On that same day Immunomic received a third tranche of $16,428,230, bringing the total funding in the transaction to $77,728,230. The reports do not disclose the financing instrument or the intended use of proceeds. No operating metrics or other financial details were provided in the articles. Immunomic Therapeutics is a privately-held, clinical-stage biotechnology company developing nucleic acid immunotherapies through its proprietary UNITE (UNiversal Intracellular Targeted Expression) platform. UNITE fuses pathogenic antigens with lysosomal-associated membrane protein to promote immune processing and is being used in DNA and RNA vaccines to elicit antibodies, cytokine responses, and immunological memory. The company has built a pipeline with six oncology programs and two allergy programs, and is actively evaluating ITI-1000 in a Phase II trial for glioblastoma multiforme (ATTAC-II) in collaboration with the University of Florida and Duke University. ITI-1001 is a cell-free GBM approach that completed a successful pre-IND meeting and expects to file an IND by the end of 2020. ITI also has a significant allergy partnership with Astellas Pharma, academic collaborations with Fred Hutchinson Cancer Research Institute, Johns Hopkins, and Duke, and has initiated an infectious-disease vaccine program for COVID-19. Headquartered in Rockville, Maryland, the company plans to use financing proceeds to accelerate trials, expand its team and infrastructure, and broaden UNITE applications. Immunomic Therapeutics develops treatments targeting common allergies including pollen, food and animal allergens. The company says its scientific platform is validated by three commercial partnerships — two with Astellas Pharma and one with Geron/Asterias. Initial license payments received exceed $300 million, and pending milestone payments exceed $55 million, reflecting material partnership value. Immunomic has been funded entirely by angel investors and family offices, totaling just under $20 million in private equity and dividend reinvestment; in December 2015 it paid over $90 million as a cash dividend to investors. The company is led by founder and CEO William Hearl and is described in the filing as an 11-year-old business based in Rockville. It is pursuing additional capital while continuing to commercialize and partner its technology. Immunomic Therapeutics is a clinical-stage vaccine platform company developing vaccines based on its patented Lysosomal Associated Membrane Protein (LAMP) technology. The LAMP technology is intended to increase the effectiveness of the immune response to nucleic acid vaccines while simplifying vaccine design and delivery. The company is led by CEO Dr. Bill Hearl and is based in Hershey, PA, with lab facilities in Rockville, MD. It raised $3M in funding as reported in October 2013. The company intends to use the capital to fund more in-depth clinical trials aimed at progressing toward a product acquisition. No operating metrics were disclosed in the article.

Total raised

$69M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2020