Skip to main content
Premium Trial:

Request an Annual Quote

Immunocore Raises $140M PIPE Financing

NEW YORK – Immunocore on Monday said it would sell 3,733,333 shares in a private investment in public equity (PIPE) financing agreement expected to raise $140 million. 

Under the deal, Immunocore will sell both ordinary shares and non-voting ordinary shares at a price of $37.50 per share. The firm's existing investors taking part in the financing include RTW Investments, Rock Springs Capital, and General Atlantic. The PIPE agreement is expected to close on July 20. 

The company will use the proceeds to fund its oncology and infectious disease pipeline candidates, including development of its lead oncology candidate Kimmtrak (tebentafusp-tebn) as a treatment for HLA-A*02:01-positive cutaneous and uveal melanoma. The financing, along with revenue from Kimmtrak, is expected to fund Immunocore's operations through 2025. 

This year, Kimmtrak has been approved for patients with HLA-A*02:01-positive unresectable or metastatic uveal melanoma in the US, Europe, and the UK, along with other countries. Immunocore is continuing to study the drug in Phase I/II studies in HLA-A*02:01-positive cutaneous melanoma. 

Immunocore is also developing four other oncology candidates, including two other T-cell receptor drugs in Phase I/II trials in advanced solid tumors. One of these drugs is being developed for patients who are both HLA-A*02:01-positive and MAGE-A4-positive, and the other targets both HLA-A*02:01- and PRAME-positive tumors. The firm also has two undisclosed oncology candidates in preclinical development.