Navigation Links
Immune Pharmaceuticals Inc. Announces Closing Of Public Offering Of Common Stock And Warrants

NEW YORK and HERZLIYA PITUACH, Israel, Nov. 25, 2014 /PRNewswire/ -- Immune Pharmaceuticals Inc. (NasdaqCM: IMNP; "Immune" or "the Company"), a clinical stage biopharmaceutical company that engages in the development and commercialization of targeted therapeutics for the treatment of inflammatory diseases and cancer, today announced the closing of its previously announced underwritten public offering of 3,450,000 units, with each unit consisting of one share of the Company's common stock, par value $0.0001 per share, and one warrant to purchase 0.25 of a share of the Company's common stock, at a price to the public of $2.50 per unit.  The warrants will be exercisable for a period of three years following the issuance thereof at an exercise price of $3.75 per a whole share. In connection with the offering, the Company has also granted the underwriter a 30-day option to purchase up to an additional 517,500 units offered in the public offering to cover over-allotments, if any.

Gross proceeds raised through the underwritten public offering were $8.625 million. Separately, $1.0 million recently invested in the Company privately by an existing investor converted into 400,000 units, consisting of 400,000 shares of common stock and warrants to purchase up to 100,000 shares of common stock at the same term as the underwritten public offering, bringing the total gross proceeds raised in November 2014 to $9.625 million. The net proceeds to the Company are approximately $8.585 million, assuming no exercise of the over-allotment option or the warrants and after deducting underwriting commissions and discounts and estimated offering expenses payable by the Company. The potential exercise of the over-allotment, if any, would provide the Company with up to an additional $1.3 million of gross proceeds.

Dr. Daniel Teper, CEO of Immune comments: "We are pleased that the first public capital raise following our up listing to NASDAQ was completed successfully at terms close to market price. The capital raised ensures funding of our ongoing R&D and business operations through 2015."

National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB: NHLD), acted as sole book-running manager for the offering.

The securities described above were offered by Immune pursuant to a "shelf" registration statement previously declared effective by the Securities and Exchange Commission (SEC) on October 28, 2014 (File No. 333-198647). Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting the book-running manager at the following address:

National Securities Corporation
410 Park Ave, 14th Floor
New York, NY 10022
Attn: Kim Addarich
Telephone: (212)-417-8164

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Immune Pharmaceuticals, Inc., and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Immune Pharmaceuticals, Inc.

Immune Pharmaceuticals Inc. applies a personalized approach to treatment, developing novel, highly targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer.  The Company's lead product candidate, bertilimumab, is in clinical development for moderate to severe Ulcerative Colitis as well as Bullous Pemphigoid, an orphan auto-immune dermatological condition. Immune licensed worldwide rights for systemic indications of bertilimumab from iCo Therapeutics (TSX: ICO; OTCQX: ICOTF) in June 2011, while iCo retained rights to all ophthalmic indications. iCo originally licensed the exclusive world-wide rights to bertilimumab in 2006 from MedImmune, the Global Research and Development Arm of AstraZeneca.  Immune's pipeline also includes NanomAbs®, antibody nanoparticle conjugates, for the targeted delivery of chemotherapeutics, and Amiket™, a Neuropathic Pain drug candidate ready for Phase III. Amiket has received Orphan Drug Designation for Post Herpetic Neuralgia. For more information, visit Immune's website at, the content of which is not a part of this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal" or the negative of those words or other comparable words to be uncertain and forward-looking.  Such forward-looking statements include statements that express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause actual results or developments to differ materially include, but not limited to: the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern; the risks associated with our ability to continue to meet our obligations under our existing debt agreements; the risk that clinical trials for bertilimumab or AmiKet™ will not be successful; the risk that bertilimumab, AmiKet™ or compounds arising from our NanomAb® program will not receive regulatory approval or achieve significant commercial success; the risk that we will not be able to find a partner to help conduct the Phase III trials for AmiKet™ on attractive terms, on a timely basis or at all; the risk that our other product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later-stage clinical trials; the risk that we will not obtain approval to market any of our product candidates; the risks associated with dependence upon key personnel; the risks associated with reliance on collaborative partners and others for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our history of operating losses since our inception; the highly competitive nature of our business; risks associated with litigation; and risks associated with our ability to protect our intellectual property. These factors and other material risks are more fully discussed in our periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the disclosures found in our filings which are available at or at You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be wrong due to inaccurate assumptions, unknown risks or uncertainties or other risk factors. We expressly disclaim any obligation to publicly update any forward looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Immune Pharmaceuticals Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Global Human Microbiome (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder) Market - Forecast to 2023
2. FDA approves PleximmuneTM for personalized prediction of transplant rejection in children
3. Immune Pharmaceuticals Presenting At The 16th Annual Rodman & Renshaw Global Investment Conference, September 10, 2014
4. Immune Pharmaceuticals Announces Approval for Listing on the NASDAQ Capital Market
5. Immune Targeting Systems and WCCT Global Announce a New Influenza A H1N1 Virus to Support the Experimental Human Viral Challenge Model
6. Immune Pharmaceuticals Announces Second Quarter 2014 Financial Results and Provides Update on Bertilimumab Commencement of Phase II Clinical Trials
7. Novimmune Reports Successful Completion of Phase I trial for NI-0101
8. Immune Pharmaceuticals Commences Patient Screening For Bertilimumab Phase II Clinical Trial In Bullous Pemphigoid, A Rare Auto-Immune Disease Of The Skin
9. UMD Researcher Helps Arm the Immune System to Fight Cancer
10. Immunotherapies Will Continue to Dominate the Malignant Melanoma Drug Market with Sales of Immune Checkpoint Inhibitors Accounting for Majority of Sales in this Drug Class in 2022
11. BHI Elects MedImmunes Reg Seeto, M.D. to Board of Directors
Post Your Comments:
(Date:9/22/2017)... , Sept. 22, 2017  As the latest Obamacare ... Bill Cassidy (R-LA) and Lindsey Graham ... that the medical device industry is in an odd ... tax, the 2.3% excise tax on medical device sales ... also want covered patients, increased visits and hospital customers ...
(Date:9/18/2017)... KALAMAZOO, Mich. , Sept. 18, 2017 /PRNewswire/ ... and OptiMed Specialty Pharmacy of Kalamazoo, Mich. ... a strategic hub service that expedites and streamlines patient ... spirometer, Spiro PD 2.0, and wellness management services.  ... a medical device used to measure lung function for ...
(Date:9/12/2017)... 2017  Consumer reviews on the independent review site Consumer ... one company for hearing aids, ranking it higher than Miracle ... ... Consumers For Hearing Aids ... an online store that provides high performance, state-of-the-art, German-engineered hearing aids ...
Breaking Medicine Technology:
(Date:10/13/2017)... , ... October 13, 2017 , ... ... be giving viewers the lowdown on sciatica in a new episode of "Success ... focuses on current events and innovation and investigates each subject in-depth with passion ...
(Date:10/12/2017)... ... October 12, 2017 , ... First ... compliance program management, will showcase a range of technology and learning solutions at ... (NCAL) Convention and Expo to be held October 14–18, 2017 at the Mandalay ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( ), ... of an innovative new design of the shoulder pad. The shoulder pad provides ... while controlling your pain while using cold therapy. By utilizing ice and water that ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa ... contributed a medical article to the newly revamped Cosmetic Town journal ... the hair transplant procedure known as Follicular Unit Extraction (FUE). , ...
(Date:10/12/2017)... ... October 12, 2017 , ... Women-owned and Grand Rapids-based ... and Brightest in Wellness® by Best and Brightest. OnSite Wellness will be honored ... 20 from 7:30 a.m. to 2 p.m. at the Henry Autograph Collection Hotel, ...
Breaking Medicine News(10 mins):