{"id":44120,"date":"2019-01-17T08:00:18","date_gmt":"2019-01-17T07:00:18","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=44120"},"modified":"2019-01-16T16:32:14","modified_gmt":"2019-01-16T15:32:14","slug":"immunic-us-stock-exchange","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/44120\/immunic-us-stock-exchange\/","title":{"rendered":"Immunic merges and goes public on the US stock exchange"},"content":{"rendered":"

Clever jump to the US stock exchange: Through a merger with the Nasdaq-listed company Vital Therapies<\/a> Martinsried-based Immunic AG is gaining quick and cost-effective access to the US stock market over the turn of the year. While Vital shareholders are assuming a minority role, Immunic investors are shelling out \u20ac26 million for the transaction.<\/strong><\/p>\n

The drug developer, which was spun off from 4SC AG, which is also listed on the (German) stock exchange, almost three years ago, Martinsried Innovation Center IZB<\/a> will soon be listed on the US technology exchange Nasdaq as Immunic Inc. According to an agreement signed in early January, the indirect IPO will be conducted through a share exchange.<\/p>\n

US stock exchange: Immunic shareholders receive 89 percent<\/h3>\n

An investor consortium consisting of Life Sciences Partners, Omega Funds, Fund +, Lifecare Partners, Bavaria Capital<\/a>, High-Tech Gr\u00fcnderfonds, and IBG Beteiligungsgesellschaft Sachsen-Anhalt have pledged to invest approximately \u20ac26 million in the company upon completion of the transaction. This money will be used to advance Immunic's further drug development. The financing is expected to be completed before or at the same time as the closing of the merger, which is contingent upon this financing.<\/p>\n

The total cash balance of the new company will then be between $35 million and $40 million, sufficient to finance development through the third quarter of 2020. Vital Therapies shareholders will own 11 percent of the combined company, and Immunic shareholders will own 89 percent.<\/p>\n

CEO Vitt remains responsible<\/h3>\n

Daniel Vitt, Chief Executive Officer and President of Immunic, will remain at the helm, but the company's headquarters will move to Boston, USA, as its formal headquarters. The transaction has already been approved by the supervisory boards of both companies and Immunic's shareholders. It is expected to be finalized in the second quarter of 2019.<\/p>\n

Immunic already had a remarkable reputation throughout Germany when it was founded. Series A financing of over 30 million euros<\/a> can raise.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

A clever leap onto the US stock market: Through a merger with Nasdaq-listed Vital Therapies, Martinsried-based Immunic AG is gaining quick and cost-effective access to the US stock market over the turn of the year. While Vital shareholders are taking on a minority role, Immunic investors are shelling out \u20ac26 million for the transaction...<\/p>","protected":false},"author":3,"featured_media":25152,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5633,1,5635],"tags":[52,1691,2294,1499,156,3458],"acf":[],"yoast_head":"\nImmunic fusioniert und geht an die US-B\u00f6rse - Munich Startup<\/title>\n<meta name=\"description\" content=\"\u00dcber eine Fusion mit dem an der Nasdaq gelisteten Unternehmen Vital Therapies schafft die Martinsrieder Immunic AG den Sprung an die US-B\u00f6rse.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/44120\/immunic-us-stock-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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