Immunic Secures Hefty Funding Through Oversubscribed Private Placement

On February 17, 2026, Immunic, Inc. (Nasdaq: IMUX) announced the successful closure of an oversubscribed private placement financing, raising upfront proceeds of USD 200 million with a potential additional USD 200 million. The funding aims to propel clinical trials for multiple sclerosis and support the company's transformation into a commercial entity.

The financing, led by BVF Partners L.P., featured prominent investors like Aberdeen Investments and OrbiMed. Immunic issued 229,076,000 pre-funded warrants for its common stock at $0.873 per warrant, raising the initial USD 200 million. These warrants could potentially garner another USD 200 million, depending on data from upcoming phase 3 trials.

Proceeds from the funding will support ongoing trials and operational needs, extending financial coverage into late 2027. Placement agents included Leerink Partners and others. The securities sold remain unregistered under the Securities Act of 1933.