Immunic/Nela DornerA late-week surprise from Munich-based Immunic, Inc. (listed on Nasdaq as IMUX): the company has launched a follow-on private placement of up to US$400 million and expects to close the financing later this month. At the same time, the biotech is pressing ahead with its transformation in preparation for the potential commercialisation of its lead asset. Current CEO Daniel Vitt will step back once a successor with proven market-launch expertise has been appointed.
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It’s a busy day for U.K.-based Tenpoint Therapeutics, which has secured U.S. Food and Drug Administration (FDA) approval for YUVEZZI, a combination eye drop for the treatment of presbyopia, while raising $235 million to support its commercial rollout at the same time.