B. Riley Securities, a full-service investment bank, served as a placement agent in connection with the successful closing of Immunic’s private placement of up to $400 million. The transaction included $200 million in upfront proceeds through the issuance of 229,076,000 pre-funded warrants, with up to an additional $200 million in proceeds through exercisable warrants.
Proceeds from the transaction will support Immunic’s strategic evolution from a research and development-focused biotechnology company into a fully integrated commercial-stage organization. The capital will enable completion of Immunic’s ongoing Phase 3 ENSURE clinical trials of vidofludimus calcium in relapsing multiple sclerosis (RMS), with top-line data expected by year-end 2026, and submission of a New Drug Application (NDA) to the FDA in mid-2027.
Proceeds will also fund initiation of a Phase 3 clinical program in primary progressive multiple sclerosis (PPMS) and pre-commercial preparations, including expansion of medical and commercial teams.
