Immutep Successfully Completes Institutional Placement and Institutional Component of its Entitlement Offer

Sydney, Australia, June 02, 2023 (GLOBE NEWSWIRE) -- Immutep Limited, an Australian company (ASX: IMM) (Nasdaq: IMMP) (Immutep or the Company), is pleased to announce the successful completion of an institutional placement (Placement) and the institutional component (Institutional Entitlement Offer) of its 1 for 7.6 pro rata accelerated non-renounceable entitlement offer (Entitlement Offer and, together with the Placement, the Offer) of new fully paid ordinary shares in Immutep (New Shares).

Immutep is conducting a fully underwritten Offer of approximately A$80 million comprising the Placement and the Entitlement Offer.

The Placement and Institutional Entitlement Offer (together, the Institutional Offer) closed on Wednesday, 31 May 2023.

The Institutional Offer raised gross proceeds of approximately A$67.9 million at an offer price of A$0.26 per New Share, consisting of approximately A$50 million under the Placement and approximately A$17.9 million under the Institutional Entitlement Offer.

Following completion of the Offer Immutep will be fully funded for its current and expanded clinical program through to Q1 2026 with a pro-forma cash balance of A$135.2 million.

Dr Russell Howard, Chairman of Immutep, said:        

“This funding received from the Offer will support our new registrational Phase III TACTI-004 trial in 1st line non-small cell lung cancer to critical interim results¹, our ongoing Phase IIb TACTI-003 study in head and neck small cell carcinoma to its final data read out and our Phase II / III AIPAC-003 trial in metastatic and triple negative breast cancer to its Phase II read-outs. It will also enable us to continue our expansion strategy for efti with funding for additional efficacy signal studies in different settings, and to potentially conduct a first-in-human Phase I trial² for IMP761, the world’s first and only LAG-3 agonist, for autoimmune disease.”

New Shares subscribed for under the Institutional Offer are expected to be settled on Wednesday, 7 June 2023 in Australia and to be issued on Thursday, 8 June 2023. New Shares issued under the Institutional Offer will rank equally with existing fully paid ordinary shares in Immutep as at their date of issue.

The retail component of the Entitlement Offer is expected to open on 6 June 2023. Existing retail shareholders with registered addresses in Australia or New Zealand may participate in that retail component of the Entitlement Offer on the same terms as the Institutional Entitlement Offer. Persons in the United States may not participate in the retail component of the Entitlement Offer.