Immuron Limited Receives $3.43 Million in Funding from U.S. DoD

Jan 12, 2022 By MarketDepth

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Immuron Limited (NASDAQ: IMRN) today announced that it had received funding for a new research agreement with the U.S Department of Defense.

Up Premarket

Shares of Immuron Limited (NASDAQ: IMRN) climbed over 58% in premarket trading after the company announced the receipt of USD 3.43 million in funding from the U.S. Department of Defense for Travelan.

“This new project expands our clinical development program and represents the first of several significant clinical trials which the Company expects to undertake with the US Military in 2022. The new funding is testament to the value proposition our hyperimmune bovine polyclonal colostrum technology offers to benefit the US Military as well as the civilian international travelling population.”

Dr. Jerry Kanellos, CEO of Immuron

Up to 60 volunteers will be enrolled in the clinical study entitled “Biologics License Application (BLA) of a therapeutic Bovine Immunoglobulin supplement targeting Travelers’ Diarrhea caused by Enterotoxigenic Escherichia Coli.” They will then be randomly assigned to receive either a once-daily dose of 1200 mg of Travelan® or placebo, in an effort to test and confirm the efficacy of a single, larger dose regimen of Travelan® in a controlled human infection model.