Immunic(US:IMUX) Prnewswire·2026-02-13 11:30Core Viewpoint - Immunic, Inc. has announced an oversubscribed private placement of up to USD 400 million to facilitate its transition into a commercial-stage company, focusing on the development of novel oral therapies for neurologic diseases, particularly multiple sclerosis [1][2]. Financing Details - The private placement will provide upfront proceeds of USD 200 million, with the potential for an additional USD 200 million through warrants [1][2]. - The financing was led by existing investor BVF Partners L.P. and included participation from various institutional investors [1][2]. - The company plans to use the net proceeds to fund clinical trials, operations, and general corporate purposes, with expectations to support activities through late 2027 [2]. Clinical Development Plans - Immunic aims to initiate a Phase 3 clinical program for primary progressive multiple sclerosis (PPMS) later this year, which is expected to take approximately 3.5 to 4 years to complete [1]. - The ongoing Phase 3 ENSURE trials for vidofludimus calcium in relapsing multiple sclerosis (RMS) are expected to yield top-line data by the end of 2026, with a New Drug Application (NDA) submission planned for mid-2027 [1][2]. Product Mechanism and Potential - Vidofludimus calcium is designed to provide neuroprotective effects and reduce inflammatory damage, addressing key biological drivers of disability progression in multiple sclerosis [1]. - The drug's mechanism involves enhancing neuronal survival through nuclear receptor-related 1 (Nurr1) activation and selective inhibition of dihydroorotate dehydrogenase (DHODH) [1]. Leadership Changes - Dr. Daniel Vitt, the co-founder and CEO, will transition to a new role focused on scientific strategy, while the search for a new CEO with commercial expertise in the MS space is underway [1][2]. - Simona Skerjanec has been appointed as the interim Chairperson of the Board of Directors, bringing significant experience from her previous role at Roche [1][2].