IMV completes C$29.46M offering of shares

On March 6, 2019, IMV Inc. completed its previously announced offering of 4,900,000 common shares through a syndicate of underwriters at a price of C$5.45 per share for aggregate gross proceeds of approximately C$26.7 million. On March 11, 2019, the underwriters partially exercised the over-allotment option granted to them by purchasing an additional 504,855 shares at a price of C$5.45 per share for additional gross proceeds of C$2.75 million. The total value of the transaction is approximately C$29.46 million.

IMV intends to use the proceeds from the offering to accelerate the development of its lead immunotherapy candidate, DPX-Survivac, and for general corporate purposes.

IMV is a biopharmaceutical company based in Dartmouth, Nova Scotia. It is focused on creating more effective immunotherapies for cancer and other diseases.

McCarthy Tétrault LLP advised IMV with a team led by Philippe Leclerc that included Isabelle Pépin-Lapointe and Vincent Laurin.