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Oncology biotech Immuneering prices upsized IPO at $15 midpoint

July 30, 2021

Immuneering, a preclinical biotech targeting signaling pathways to treat cancer and neurological diseases, raised $113 million by offering 7.5 million shares at $15, within the range of $14 to $16. The company offered 0.5 million more shares than anticipated.

Immuneering's oncology programs target mutations of the MAPK and mTOR pathways, which run parallel to each other and are inappropriately activated in over half of all cancers. The company's lead program, IMM-1-104, is a highly selective dual-MEK inhibitor being developed for the treatment of advanced solid tumor patients harboring RAS mutant tumors. Immuneering plans to submit an IND for IMM-1-104 in the 1Q22 and anticipates filings at least two additional INDs for its other oncology programs in each of 2023 and 2024.

Immuneering plans to list on the Nasdaq under the symbol IMRX. Morgan Stanley, Jefferies, Cowen, and Guggenheim Securities acted as joint bookrunners on the deal.