Immuron (ASX: IMC) has now raised a total of A$1.4 million through a recent share purchase plan and earlier private placement, with the company now in a good cash position to continue the commercial roll-out of the travellers' diarrhoea product known as Travelan®.
The product is a unique oral preventative against bacteria, with clinical studies showing that the product provides protection against the main cause of traveller’s diarrhoea in 90% of consumers who use it.
Highlighting the globalisation of Travelan®, the product is currently approved in Australia, New Zealand and South Africa, with the potential global market being identified as US$650 million annually.
The capital injection means Immuron is also well placed to advance ongoing discussions with potential licensees for its Non-Alcoholic Steatohepatitis (NASH) and Fatty Liver product, IMM-124E.
NASH is one of the most common liver diseases in the western world. It is associated with obesity, diabetes and hyperlipidaemia.
Earlier this year Immuron received the all clear from the United States Food and Drug Administration to proceed with a Phase 2b clinical trial of IMM-124E.
IMM-124E has the potential to be the first available and approved treatment for NASH patients in the world and the only product candidate to date that addresses the pathogenesis of the disease, representing an extremely lucrative opportunity for Immuron.
Based on the data generated to date, IMM-124E has a high safety profile and is able to elicit a response in many fatty liver/NASH parameters including insulin resistance and elevated serum cholesterol.
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