IMC Immuron Limited

By Chris Wack

Immuron Ltd. shares were up 40% to $3.66 after the company said it was awarded 4.8 million Australian dollars ($3.4 million) in funding in a new research agreement with the U.S Department of Defense for a study to clinically evaluate a military strength dosing regimen for Travelan.

The biopharmaceutical company said the U.S. Naval Medical Research Center received A$1.4 million in funding to support the Travelan clinical development effort.

The company said the focus of the new agreement is aimed at testing and confirming the efficacy of a single larger dose regimen of Travelan in a controlled human infection model clinical study using the enterotoxigenic Escherichia coli strain H10407.

Immuron said this single larger dosing regime is potentially more amenable for use in military populations. Up to 60 volunteers will be enrolled in the clinical study and will be randomly assigned to receive either a once-daily dose of 1200 mg of Travelan or placebo.

Results of the proposed clinical study also will inform on dosing in the pivotal Phase 3 registration trials for Biologics License Application licensure. A project kickoff meeting for this award has been scheduled for the end of January with the U.S government sponsors.

The stock hit its 52-week low of $2.32 on Dec. 28.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 12, 2022 10:24 ET (15:24 GMT)

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