Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) is raising about A$11.12 million before costs through a two-tranche placement, strengthening its balance sheet as it advances its lead cell therapy asset azer-cel through key clinical and regulatory milestones.
The placement follows positive early clinical data from Cohort 3 of Imugene’s ongoing Phase 1b azer-cel study, where the first two evaluable patients in the concurrent BTKi combination cohort achieved complete responses.
The placement will involve the issue of about 117.1 million new fully paid ordinary shares at A$0.095 per share to sophisticated, professional and institutional investors. It was strongly supported by new and existing institutional investors. Placement participants include an international, commercial-stage biopharmaceutical company, which subscribed for about 14% of the placement, subject to shareholder approval.
Funding into CY2027
The placement is expected to provide funding into CY2027, with proceeds to be used primarily for the continued development of azer-cel.
Funds will support the expansion of Cohort 2, covering CAR-T naïve indications, and Cohort 3, covering the BTKi combination arm, as well as regulatory engagement, manufacturing scale-up and general working capital.
Tranche 1 is expected to raise A$7 million through the issue of about 73.7 million new shares, while Tranche 2 will raise A$4.1 million through the issue of 43.4 million new shares, subject to shareholder approval where required.
Complete responses sharpen clinical focus
Recent clinical progress has centred on Imugene’s concurrent BTKi combination cohort in its Phase 1b azer-cel study.
On June 30, 2026, Imugene announced that a BTKi-refractory follicular lymphoma patient had achieved a complete response at Day 28. A day later, the company announced a second complete response in the first mantle cell lymphoma patient treated in the study, taking the response rate to 2/2 evaluable patients in that cohort.
Managing director and CEO Leslie Chong said: “The first two evaluable patients in our concurrent BTKi combination cohort have both achieved complete responses, providing a strong early clinical signal for azer-cel in a therapeutic class worth more than US$12 billion annually. This Placement funds a series of important clinical data readouts over the next 6–12 months, including presentations at ASH and ASCO, while supporting our ongoing business development activities and continued discussions with potential pharmaceutical partners. We thank our shareholders, new investors and Directors for their ongoing support as we advance azer-cel towards a registrational pathway”.
About azer-cel
Azer-cel, or azercabtagene zapreleucel, is Imugene’s lead off-the-shelf, allogeneic CAR-T therapy targeting CD19 for the treatment of blood cancers.
Imugene said BTK inhibitors are an established standard of care across multiple B-cell malignancies, with published studies supporting the rationale for combining BTK inhibition with CAR-T therapy. The company said its early results provide the first clinical evidence supporting this approach with azer-cel, an allogeneic CAR-T therapy.
Further patient readouts are expected across the BTKi and CAR-T naïve cohorts over the next 6–12 months, with potential data presentations anticipated at ASH 2026 and ASCO 2027.