Immune Design offers to sell $60 million shares in public offering

Underwriters granted greenshoe for $9 million more shares

By Susanna Moon

Chicago, April 13 – Immune Design Corp. is offering to sell up to $60 million shares of its common stock, according to an S-1 filing with the Securities and Exchange Commission. The deal includes an over-allotment option for $9 million more shares.

The company’s common stock last closed at $24.65 (Nasdaq: IMDZ) on April 10. Sold at this assumed offering price, the company said it would be offering 2,434,077 shares of common stock.

The joint bookrunning managers are Jefferies LLC, Leerink Partners LLC and Cowen and Co., LLC. The lead manager is Wells Fargo Securities, LLC.

Proceeds will be used to fund additional research and development activities for the company’s CMB305 program, including a potential additional phase 2 clinical trial beyond its currently planned randomized sarcoma trial; to fund potential additional phase 1 and phase 2 clinical trials in its G100 program in combination with other approaches, such as radiation therapy or a checkpoint inhibitor; to fund development of a next-generation ZVex product candidate; to continue developing the manufacturing process and scale up for its product candidates; and for research, working capital and general corporate purposes.

Immune Design is a clinical-stage immuno-therapy company based in Seattle.

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