Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) will present data from its lead cancer therapy candidate azer-cel in an oral presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, marking a high-profile milestone for the company.
The clinical-stage immuno-oncology company said the azer-cel data had been selected for oral presentation at the conference, to be held from May 29 to June 2, 2026. ASCO is regarded as one of the world’s leading oncology meetings, with more than 8,500 abstracts reviewed this year by the Scientific Program Committee.
Further details on the presentation, including session timing, would be released on April 21, 2026, in line with ASCO’s abstract release rules. The full abstract is scheduled to be published on the ASCO website on May 21, 2026, with the presentation to be made available on Imugene’s website after the conference.
Capital raising to back next trial phase
Alongside the ASCO update, Imugene is currently undertaking a capital raising comprising a 2-tranche institutional placement and a share purchase plan (SPP), with proceeds to be directed primarily towards advancing azer-cel.
The company has already secured firm commitments for $12 million under the placement from domestic and international institutional and sophisticated investors. New shares will be issued at $0.18 each.
Eligible shareholders will also be able to participate in an SPP seeking to raise up to $8 million at the same price. Institutional investors have agreed to subscribe for the first $4 million of any shortfall under the SPP, meaning the company expects to raise at least $16 million across the combined offer.
Participants in both the placement and the SPP will receive one free-attaching listed option for every new share subscribed. The options will be exercisable at $0.18 and expire on April 30, 2027. If fully exercised, the options could provide Imugene with up to a further $20 million.
The funds would be used to expand cohort 2 of its ongoing Phase 1b azer-cel trial, launch cohort 3 evaluating azer-cel in combination with BTK inhibitors, and support broader clinical and operational activities.
Azer-cel is an allogeneic CAR T-cell therapy being developed for blood cancers including lymphoma, using donor-derived immune cells engineered to target and destroy cancer cells.