Imugene (ASX:IMU) received AU$20 million from the issuance of senior, unsecured, zero-coupon convertible notes to CVI Investments, representing the first tranche of a AU$46 million capital raise, according to a Wednesday filing with the Australian bourse.
The convertible notes have a five-year maturity, the filing said.
Proceeds will be used to advance the company's immuno-oncology clinical trial pipeline, according to the filing.
Imugene's shares fell nearly 3% in morning trade Wednesday.
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