Imugene Limited (AU:IMU) has released an update.
Imugene Limited has entered into a strategic partnership with Kincell Bio, involving the sale of its CGMP-compliant cell therapy manufacturing facility for up to $6M USD. This partnership is set to streamline Imugene’s operations, projected to save $32M USD in costs over three years and extend its cash runway until 2026. The deal also includes a supply agreement for Kincell to produce Imugene’s Azer-cel for clinical studies, bolstering Imugene’s focus on developing novel cancer treatments.
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