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EIB provides Immunic with up to €24.5 million to support potential coronavirus therapy

Christian Fernsby ▼ | October 21, 2020
The European Investment Bank (EIB) and Immunic, Inc. announced the signing of a €24.5 million financing agreement.
EIB Group
Immunic   EIB Group
The venture loan is intended to support Immunic’s ongoing phase 2 CALVID-1 trial of its lead asset, IMU-838, in patients with moderate coronavirus disease 2019 (coronavirus).

Topics: EIB

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.