Imugene Ltd (ASX:IMU) non-executive director Paul Hopper has increased his shareholding in the company substantially.
He recently acquired 100.9 million shares increasing his overall holding to 177.1 million shares, more than doubling his stake.
Shares in the company entered a trading halt yesterday pending the release of details regarding a capital raising.
Industry sources suggest Imugene is raising up to $24.6 million through a placement priced at 3.6 cents with attaching options.
The raising is being led by brokers Bell Potter and Aurenda Partners.
Imugene is a clinical-stage biotech company developing a range of immunotherapies that seek to activate the immune system of cancer patients to treat tumors.