(MENAFN- ProactiveInvestors)
Imugene () non-executive director Otto Buttula has increased his indirect interests in the company through participation in the recent share placement priced at $0.01 per share.
Indirect interests of Buttula acquired 15 million shares for $150000. This brings his indirect interest up to 77 million shares.
Separately executive chairman Paul Hopper’s indirect interests acquired 1.5 million shares for $15000 under the company’s share purchase plan.
Hopper now indirectly holds 69796875 shares in the company.
Imugene recently raised over $3.5 million from its recent placements and share purchase plan.
Proceeds will be used for the development of HER-Vaxx Imugene’s peptide vaccine that causes the immune system to generate cancer-fighting antibodies.
Her-Vaxx has potential to improve upon Roche Holdings Ltd’s (US$251.1 billion valuation) blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.
It was developed by one of Europe’s leading cancer institutes with about $10 million already invested in the technology.
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