The European Investment Bank (EIB) and Immunic, Inc., a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, announced the signing of a €24.5 million financing agreement. The venture loan is intended to support Immunic’s ongoing phase 2 CALVID-1 trial of its lead asset, IMU-838, in patients with moderate coronavirus disease 2019 (COVID-19).
In addition, it is also intended to support the potential expansion of the CALVID-1 trial into a confirmatory phase 3 trial and the commercial-scale manufacturing for IMU-838. Immunic AG, the German subsidiary of Immunic, Inc., will receive the EIB loan in three tranches upon the completion of pre-defined milestones.
IMU-838, an orally available small molecule, has successfully demonstrated preclinical activity against SARS-CoV-2 in multiple assays and is currently undergoing a phase 2 clinical trial in hospitalised COVID-19 patients with moderate disease activity. IMU-838 is also being tested in other phase 2 trials evaluating the use of the drug as a potential treatment for chronic inflammatory and autoimmune diseases, such as multiple sclerosis or ulcerative colitis.
“While SARS-CoV-2 infections are on the rise, many of Europe’s top scientists are working relentlessly to help better control the pandemic,” said Ambroise Fayolle, EIB Vice-President in charge of innovation and lending in Germany. “The role of European institutions is to support their research and innovation to the best of our ability. I am therefore very pleased that EIB financing can contribute to the R&D activities of Immunic. If successful, Immunic’s drug may reduce the number of critically ill COVID-19 patients, thereby relieving the burden on health systems, patients and families alike.”
One of Immunic’s goals is to develop IMU-838 not only as a treatment option for COVID-19 but also for potential use against other, future viral pandemics. The drug’s antiviral effect has been shown to be host-based, which suggests that it is independent of virus-specific proteins and their structure, shielding it from resistance or mutations of SARS-CoV-2, and also expanding its potential application to other viruses. For instance, IMU-838 has previously demonstrated activity in vitro against Influenza A virus, HIV, and Hepatitis C virus, amongst others. Importantly, IMU-838 has already been tested in about 650 individuals with an attractive pharmacokinetic, safety, and tolerability profile, to date.
The EIB loan to Immunic is backed by the Infectious Diseases Finance Facility (IDFF) set up as part of the European Union’s Horizon 2020 Programme.
Original source: EIB
