Immunome rises on merger agreement, $125 million private placement

Immunome

29/06/2023 16:07

** Shares of biopharma co Immunome Inc  IMNM.O  rise 32.7%
to $7.82 - among top pct. gainer across U.S. exchanges
    ** Co enters into a merger agreement with a private biotech
co Morphimmune
    ** The companies also announced private placement investment
of $125 million which will be used to continue development of
the lead assets in the combined pipeline
    ** The combined company will operate as Immunome and will
enable development of targeted cancer therapies across multiple
modalities
    ** Clay Siegall, current Morphimmune chief to serve as CEO
of combined company
    ** Both the merger and private placement are expected to
close by the end of Q4 2023
    ** Stock up ~270% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))