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Imugene Limited Extends Share Purchase Plan

Immuno-oncology company Imugene Limited (ASX:IMU) has granted shareholders additional time to increase their holdings in the company at the same price as a recent $2.1 million placement to sophisticated investors.

The share purchase plan allows subscriptions for between $1,000 and $15,000 at $0.01, and has now been extended by one week to Friday 5th December 2014.

The company last traded above the offer price at $0.011.

Imugene is developing B-cell based immunotherapies, known as HER-Vaxx for HER-2 positive gastric and breast cancer.

Immunotherapy has become one of the hottest and most promising areas of study for the treatment of a variety of cancerous tumours, and includes a just announced joint venture between Pfizer and Merck to commence on up to 20 preclinical immuno-oncology programs in 2015.

From January 2013 to August 2014 an index made up of U.S. immuno-oncology companies increased in value by 262.9%, when compared to a NASDAQ biotechnology index that increased by 102.2%, and the S&P500 that increased by 40.5%.

HER-Vaxx technology is compelling science that was developed by one of Europe's leading cancer institutes. Approximately $10 million has already been invested in the technology.

Research Note and StockTube Video

Access the Research Note: Imugene is undervalued v ASX, global peers in Immuno-Oncology.

Access the StockTube Video: Imugene Limited CEO Charles Walker speaks about using Immuno-oncology in the fight against cancer.

Analysis

Her-Vaxx has potential to improve upon Roche's blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.

Proactive Investors has a 6-12 month share price target of $0.034 - $0.047.

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