GAITHERSBURG, Md., Aug. 21, 2017 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq:ALT), a clinical-stage immunotherapeutics company, today announced it has closed its offering of approximately 15,656 shares of Series B convertible preferred stock and warrants. The Company received approximately $13.0 million in net proceeds from the offering, after deducting the placement agent fee, an additional fee related to the Company’s completed merger paid to the placement agent, and the Company’s estimated offering expenses. Altimmune intends to use the net proceeds from the offering for the continued advancement of development activities for its clinical-stage product pipeline, general corporate purposes, and strategic growth opportunities.

The investors in the offering include Novartis Venture Fund, HealthCap and Truffle Capital. Piper Jaffray & Co. acted as sole placement agent, and Proskauer Rose LLP represented Altimmune, in connection with the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Altimmune
Altimmune is a clinical-stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of disease and on the development of two next-generation anthrax vaccines that are intended to improve protection and safety while having favorable dosage and storage requirements compared to other anthrax vaccines. The company has two proprietary platform technologies, RespirVec and Densigen, each of which has been shown to activate the immune system in distinctly different ways than traditional vaccines.