Preclinical Biotechnology Company Immuneering, specializing in influencing signaling pathways for the treatment of cancer and neurological diseases, attracted 113 million dollars, releasing 7,5 million shares in 15 dollars - within the stated range from 14 to 16 Dollars. The company released on 0,5 million more shares, than planned. Based on the actual IPO price, Immuneering's total diluted market value would be 398 million dollars.
Immuneering cancer programs target mutations in the MAPK and mTOR pathways, which run parallel to each other and are inadequately activated in more than half of all cancers. The company's flagship program IMM-1-104 is a highly selective dual MEK inhibitor, intended for the treatment of patients with progressive solid tumors and RAS mutant tumors. In the first quarter 2022 Immuneering plans to request a medical research authorization for IMM-1-104, in 2023 And 2024 hopes to apply for at least one such authorization for cancer drugs.
Immuneering plans listing on the stock exchange Nasdaq under the ticker IMRX. Morgan Stanley became the joint organizers of the issue, Jefferies, Cowen и Guggenheim Securities.
