Immutep (Formerly known as Prima Biomed) Limited has successfully completed an A$80 million capital raise to support its clinical development pipeline. The company, a clinical-stage biotechnology firm specializing in LAG-3 immunotherapies for cancer and autoimmune diseases, believes that the new funding will fully support its current and expanded clinical program until Q1 CY2026. With a pro-forma cash balance of A$135.2 million (US$90.6 million), Immutep is well-positioned to advance its therapies and conduct further trials.
Dr. Russell Howard, Chairman of Immutep, expressed excitement about the future prospects enabled by the funds raised. He highlighted the company's plans to progress eftilagimod alpha into a new registrational Phase III trial for lung cancer, as well as ongoing late-stage trials in head and neck cancer and metastatic and triple negative breast cancer. Additionally, Immutep aims to expand eftilagimod alpha into new settings and potentially initiate a first-in-human Phase I trial for IMP761, which would be the world’s first LAG-3 agonist for autoimmune diseases.