Immunovative Inc (IMUN-OTC) has today announced that it has successfully completed a $5,000,000 equity private placement with a combination of institutional and accredited individual investors. The proceeds from this offering will be used for general and administrative purposes ("G & A"), specifically to accelerate several of the Company's key initiatives including providing financial support for Immunovative Therapies, Ltd. (“ITL”) to conduct a PIVOTAL Phase II/III clinical trial designed to demonstrate efficacy and safety in support of ITL’s lead Licensed Product called “AlloStim™” (“The Pivotal Trial”).
Antonio Treminio, CEO of IMUN, stated: “The Company is pleased to have completed this important round of financing. Our investors include high net worth individuals and prominent institutional investors. These proceeds will be used to accelerate the growth of IMUN and its clinical trials. Based upon the success of this initial raise, we believe we are well poised to raise the additional capital which should allow IMUN to merge with ITL and start our application process for NASDAQ listing. On behalf of our employees and affiliates, we wish to thank our investors and shareholders for their support and confidence in helping us build our dynamic company.”
Immunovative Inc. has developed an innovative treatment for cancer. Essentially, they have developed an effective way to help the human immune system fight cancer. Cancer treatments usually rely on chemotherapy which as we know has very severe side effects that cause serious problems. In trials Immunovative’s treatment has shown very positive results while side effects were very minor, such things as minor flew symptoms and rashes were reported.
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