Finance

Immune-based biopharmaceutical corporation signs $15 million financing agreement

Published in AIDS Weekly, August 15th, 2005

The Immune Response Corporation (IMNR), a biopharmaceutical company focusing on the areas of immune-based therapy in HIV and multiple sclerosis, announced that it has entered into a standby equity distribution agreement (SEDA) with Cornell Capital Partners, LP, to support development of the company's products.

Under the agreement, which is generally referred to as an equity line of credit, Cornell Capital has committed to provide up to $15 million of funding to be drawn down over a 24-month period at the company's discretion, subject to an effective registration. There are no minimum requirements on the draw downs in the SEDA agreement. The funds may be used in whole or...

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Source: AIDS Weekly (2005-08-15)

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