On Oct. 20, 2020, the European Investment Bank (EIB) and Immunic announced the signing of a ﾀ24.5 million financing agreement. The venture loan is intended to support Immunic’s ongoing phase 2 CALVID-1 trial of its lead asset, IMU-838, in patients with moderate coronavirus disease 2019 (COVID-19).

It is also intended to support the potential expansion of the CALVID-1 trial into a confirmatory phase 3 trial and the commercial-scale manufacturing for IMU-838. Immunic AG, the German subsidiary of Immunic, will receive the EIB loan in three tranches upon the completion of pre-defined milestones.