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Immunicum: Potentially transformational merger - Edison

On 18 November, Immunicum announced that it had agreed to acquire biotech company DCprime by issuing 73.9k new shares or 44% of the enlarged capital. Based in the Netherlands, the privately owned biotech is developing a novel class of allogeneic dendritic cell-based cancer vaccines. The most advanced programme is in AML (Phase II) with interim data presented at the ASH conference on 5–8 December. Immunicum held an Investor event on 8 December, while the EGM will be held on 18 December. Our valuation and estimates are under review and we will revise our model once the merger is complete.

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