Innate Immunotherapeutics Ltd launches IPO to raise up to A$12 million


Tuesday, 26 Nov 2013 03:00pm EST 

Innate Immunotherapeutics:Says it launches Initial Public Offer (IPO) to raise up to A$12 million through the offer of up to 60 million shares.Says commitments for A$5 million have been received, including A$3 million from Australian Ethical Smaller Companies Trust who have provided the cornerstone investment for the IPO.Says majority of funds raised will be used to conduct a placebo controlled Phase 2B efficacy trial for its lead drug candidate MIS416 for secondary progressive multiple sclerosis (SPMS).Says Patersons Securities Limited and Morgans Corporate Limited are joint lead managers to the IPO. 

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