BlueMount Victoria Leads Capital Raise for Cancer Drug Development
BlueMount Capital is pleased to report we are assisting an exciting Melbourne based antibody drug development Company to raise funds and with strategic advice.
Imunexus Ltd is a public unlisted Australian company that develops bispecific antibody based drugs.
The Company promises exceptional growth potential in the disciplines of clinical oncology and immunology. Innovative cancer therapeutics are driving value in the pharmaceutical industry, with many newly marketed engineered antibodies taking the lead in their fields.
Using its proprietary library of over 1010 (ten billion) engineered antibodies; Imunexus has identified several drug candidates that the Company aims to take through the drug development process.
Imunexus’ competitive advantage is that unlike most antibody therapeutic companies, Imunexus’ technology can be taken from concept to the identification of drug candidates within less than six months. This advantage is key to Imunexus’ potential.
Progressing, the Company has identified several drug candidates that possess drug-like characteristics. Of these, IMX101 is the closest to entering human clinical trials.
Targeting cancer, IMX101 was characterised and the Company appointed BlueMount to source the funds to complete formal Preclinical Studies that would enable IMX101 to enter Phase I human clinical trials. In parallel, Imunexus shall also advance its other drug candidates and identify new candidates.
With such a deep pool of investigational drugs, Imunexus is positioned to extract value via both 1) the development of drugs in human clinical trials and 2) license the development of non-core drug candidates to industry parties. BlueMount’s assignment comprises being the corporate advisor and are raising funds now of up to $5 million.