EIB provides Immunic with up to €24.5 million to support potential coronavirus therapyChristian Fernsby ▼ | October 21, 2020
The European Investment Bank (EIB) and Immunic, Inc. announced the signing of a €24.5 million financing agreement.
Immunic EIB Group
In addition, it is also intended to support the potential expansion of the CALVID-1 trial into a confirmatory phase 3 trial and the commercial-scale manufacturing for IMU-838.
Immunic AG, the German subsidiary of Immunic, Inc., will receive the EIB loan in three tranches upon the completion of pre-defined milestones.
IMU-838, an orally available small molecule, has successfully demonstrated preclinical activity against SARS-CoV-2 in multiple assays and is currently undergoing a phase 2 clinical trial in hospitalised coronavirus patients with moderate disease activity.
IMU-838 is also being tested in other phase 2 trials evaluating the use of the drug as a potential treatment for chronic inflammatory and autoimmune diseases, such as multiple sclerosis or ulcerative colitis.
One of Immunic’s goals is to develop IMU-838 not only as a treatment option for coronavirus, but also for potential use against other, future viral pandemics.
The drug’s antiviral effect has been shown to be host-based, which suggests that it is independent of virus-specific proteins and their structure, shielding it from resistance or mutations of SARS-CoV-2, and also expanding its potential application to other viruses.
For instance, IMU-838 has previously demonstrated activity in vitro against Influenza A virus, HIV, and Hepatitis C virus, amongst others. Importantly, IMU-838 has already been tested in about 650 individuals with an attractive pharmacokinetic, safety and tolerability profile, to date. ■