Transgene Secures €105 Million to Advance Personalized Cancer Vaccine Platform
核心洞察
Transgene successfully raised €105 million through private placement and public offering to accelerate development of its myvac® individualized therapeutic cancer vaccine platform.
The funding will primarily support ongoing Phase 2 trials in head and neck cancer, with efficacy data expected by Q4 2027/Q1 2028, and launch of Phase 1 trials in new indications.
Key investors include Institut Mérieux (搜索)'s TSGH (搜索) and the Dassault Group (搜索), demonstrating strong institutional confidence in the company's precision medicine approach to cancer immunotherapy.
Transgene, a French biotechnology company developing viral vector-based immunotherapies, announced the successful completion of a €105 million fundraising to accelerate development of its myvac® platform for individualized therapeutic cancer vaccines. The capital was raised through a combination of private placement with institutional investors and a public offering on the PrimaryBid platform at €1.02 per share.
The funding represents a significant milestone for the company's precision medicine approach to cancer treatment, with proceeds extending financial visibility until early 2028. Key investors include Institut Mérieux (搜索)'s TSGH (搜索) and the Dassault Group (搜索), with their combined subscription representing 87.1% of the total fundraising, reflecting strong institutional confidence in Transgene's strategic vision.
Strategic Focus on Personalized Cancer Vaccines
The myvac® platform represents a novel approach to therapeutic vaccination that enters the field of precision medicine with immunotherapy fully tailored to each individual patient. The platform generates virus-based immunotherapies that encode patient-specific mutations, identified and selected through advanced artificial intelligence technologies.
"The success of this transaction demonstrates the strong interest shown by institutional investors, both new and existing, as well as shareholders, in our strategy to accelerate the development of our individualized therapeutic vaccine platform, myvac®," stated Alessandro Riva, Chairman and Chief Executive Officer of Transgene.
Clinical Development Timeline and Milestones
The company has outlined a clear roadmap for the use of funds, with up to 70% allocated to accelerate the myvac® program. This includes conducting the ongoing Phase 2 trial in head and neck cancer, launching Phase 1 trials in new indications, optimizing manufacturing processes, and preparing for potential pivotal studies.
Key clinical milestones expected during the funding period include:
Phase 1/2 Trial in Head and Neck Cancers:
- Q2/Q3 2026: 3-year disease-free survival follow-up data
- Q2/Q3 2027: 4-year disease-free survival follow-up data
Phase 2 Component:
- Q1 2026: End of randomization
- H2 2026: Initial immunogenicity data
- Q4 2027/Q1 2028: Efficacy data showing two-year disease-free survival
The company also plans to launch Phase 1 trials in new indications as soon as conditions are met, with the completed fundraising ensuring financing for these clinical trials.
Manufacturing and Regulatory Preparation
An additional 20% of the funds will support R&D costs related to the myvac® program acceleration and completion of clinical trials for other platforms. The company is also investing in preparation for late-stage and pivotal trials, including GMP manufacturing optimization and regulatory alignment with FDA and EMA, targeted for completion by end of 2027.
Lucie Larguier, Chief Financial Officer of Transgene, noted: "We are proud of the success of this fundraising, which also enables a significant strengthening of the Company's equity and will allow the Company to be substantially debt-free."
Capital Structure and Market Impact
The fundraising resulted in the issuance of 141,433,349 new ordinary shares, representing 106.5% of the company's current share capital. The subscription price of €1.02 represents a 25% discount compared to the closing price on November 25, 2025.
Following the transaction, TSGH (搜索) will hold 78.29% of the share capital, while SITAM Belgium (Dassault Group (搜索)) will hold 3.55%, with other shareholders representing 18.16% of the capital structure.
Broader Portfolio and Technology Platforms
Beyond myvac®, Transgene's clinical-stage programs include BT-001, an oncolytic virus based on the Invir.IO® viral backbone currently in clinical development. The company's proprietary Invir.IO® platform leverages viral vector engineering expertise to design multifunctional oncolytic viruses.
TG4050, the first individualized therapeutic vaccine based on the myvac® platform, serves as the company's lead asset and has demonstrated proof of principle in patients receiving adjuvant treatment for head and neck cancers.
The new ordinary shares are scheduled for settlement and delivery on December 2, 2025, with admission to trading on Euronext Paris under the same ISIN FR0005175080. Van Lanschot Kempen (搜索) NV served as Sole Global Coordinator and Joint Bookrunner, with Swiss Life Banque Privée (搜索) as Joint Bookrunner for the private placement.