IMV Inc. Closes Previously Announced Public Offering
IMV Inc. (“IMV” or the “Corporation”) (NASDAQ: IMV; TSX: IMV), a clinical-stage immuno-oncology corporation, announced
today the closing of its previously-announced underwritten public offering (the “Offering”) of 4,900,000 common shares at
a price to the public of C$5.45 per common share, for aggregate gross proceeds to the Corporation of approximately C$26.7 million,
before deducting the underwriting commissions and estimated Offering expenses. In addition, the Corporation has granted the
underwriters of the Offering a 30-day option to purchase up to an additional 735,000 common shares on the same terms and
conditions.
The Corporation intends to use the net proceeds of the Offering to accelerate the development of DPX-Survivac in combination
with Keytruda as part of the basket trial select advanced or recurrent solid tumours in bladder, liver (hepatocellular carcinoma),
ovarian or non-small-cell lung cancers, as well as tumours shown to be positive for the microsatellite instability high biomarker
and for general corporate purposes.
Wells Fargo Securities and Raymond James acted as joint book-running managers for the Offering. B. Riley FBR acted as
co-manager.
The Offering was made pursuant to a U.S. registration statement on Form F-10, declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on June 6, 2018 (the “Registration Statement”), and the Company’s existing Canadian short
form base shelf prospectus (the “Base Prospectus”) dated June 5, 2018. A preliminary prospectus supplement relating to the
Offering was filed on February 28, 2019 with the securities commissions in the provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, Québec, Nova Scotia and Newfoundland and Labrador in Canada, and with the SEC in the United
States, and a final prospectus supplement relating to the Offering (the “Supplement”) was filed on March 1, 2019 with the
securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Nova Scotia and
Newfoundland and Labrador in Canada, and with the SEC in the United States. The Supplement and the accompanying Base
Prospectus contain important detailed information about the Offering. The Supplement and the accompanying Base Prospectus can be
found on SEDAR at
www.sedar.com and on EDGAR at
www.sec.gov. Copies of the Supplement and accompanying Base Prospectus may also be obtained from Wells Fargo Securities, Attn:
Equity Syndicate, 375 Park Avenue, New York, NY 10152, by telephone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com or from Raymond James, Attn: Equity Syndicate, 880
Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or e-mail at prospectus@raymondjames.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such province, state or jurisdiction.
About IMV Inc.
IMV Inc. is a clinical stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly
applicable, and more widely available to people facing cancer and other serious diseases. IMV is pioneering a new class of
immunotherapies based on the Corporation’s proprietary drug delivery platform. This patented technology leverages a novel mechanism
of action that enables the programming of immune cells in vivo, which are aimed at generating powerful new synthetic therapeutic
capabilities. IMV’s lead candidate, DPX-Survivac, is a T cell-activating immunotherapy that combines the utility of the platform
with a target: survivin. IMV is currently assessing DPX-Survivac as a monotherapy in advanced ovarian cancer, as well as a
combination therapy in multiple clinical studies in collaboration with Merck.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information under applicable securities law. All information that addresses
activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are
based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking
statements include, but are not limited to, statements regarding the anticipated use of proceeds from the Offering. However, they
should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those
set forth in this press release due to known and unknown risks and uncertainties affecting the Corporation, including access to
capital, the successful design and completion of clinical trials, the receipt and timely receipt of all regulatory approvals and
other risks detailed from time to time in our ongoing quarterly filings and annual information form. IMV Inc. assumes no
responsibility to update forward-looking statements in this press release except as required by law. Investors are cautioned not to
rely on these forward-looking statements and are encouraged to read IMV’s continuous disclosure documents, including its current
annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR
at www.sedar.com and
on EDGAR at www.sec.gov.
MEDIA
Andrea Cohen, Sam Brown Inc.
T: (917) 209-7163 E: AndreaCohen@sambrown.com
INVESTOR RELATIONS
Marc Jasmin, IMV Senior Director, Investor Relations
T: (902) 492-1819 E: info@imv-inc.com
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