Immunicum AB raised SEK351 million (US$39.5 million) through a directed issue of approximately SEK178 million to institutional investors and a fully guaranteed rights issue of approximately SEK173 million to existing holders of the company's shares, which trade on Nasdaq Stockholm. The twofold goal was to bring Swedish institutions into the company's fold and to secure sufficient funding to move lead candidate ilixadencel – a vaccine based on allogeneic dendritic cells from healthy individuals that's designed to prime the immune system against solid tumors – into phase Ib/II studies in head and neck, non-small-cell lung (NSCLC) and stomach cancers.