Immunovaccine in unit offering

Immunovaccine (TSX-V:IMV) has filed a short-form prospectus to raise a minimum of $6.5 million and a maximum of $8 million through the sale of units priced at $1 each.

Each unit consists of one common share and one-half of a warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $1.30 during the next 36 months.

Proceeds will be used to develop the company’s vaccine product candidates for human health using the DepoVax vaccine platform, including a Phase 1 study of a survivin-based therapeutic cancer vaccine.

The offering is being led by Paradigm Capital, as lead agent, and Dundee Securities and Beacon Securities, as agents.