Immuron Shares Rally On US Department Of Defense Funding Of A$6.2M

Immuron Limited IMRN has received funding of A$6.2 ($4.45) million from the U.S Department of Defense to examine a dosing regimen for Travelan more suited for use by the military.

• The Company has received A$4.8 million funding from the U.S. Department of Defense for Travelan and A$1.4 million from the U.S Naval Medical Research Center to support the Travelan clinical development effort.
• This single larger dosing regime is potentially more amenable for use in military populations. 
• Related: Immuron's IMM-124E Shows Antiviral T-Cell Immunity, Potential For COVID-19.
• Up to 60 volunteers will be enrolled in the clinical study and randomly assigned to receive a once-daily dose of 1200 mg of Travelan or placebo. 
• A project kickoff meeting for this award has been scheduled for the end of January with the U.S Government sponsors.
• Two company-sponsored clinical studies have demonstrated that Travelan conferred 84% to over 90% protective efficacy against moderate to severe diarrhea upon challenge with ETEC compared to a placebo. 
• These clinical studies were performed using two different doses of Travelan (200 mg and 400 mg), administered three times a day.
• Price Action: IMRN shares are up 66.4% at $4.36 during the premarket session on the last check Wednesday.