Trinity Completes $5M Investment In Immune Response

Immune Response Corp says that it has received the first $5 million equity investment from Thailand's Trinity Medical Group, as part of a licensing deal for the development of Remune (gp120-derived inactivated HIV-1 immunogen) in Thailand and some other Southeast Asian countries. Through this payment, Trinity will acquire 333,334 shares of common stock in Immune Response at a price of $15 per share.

And $10M In Milestones As well as funding Remune development costs in Thailand, Trinity has agreed to make additional equity investments of up to $10 million in Immune Response based on the achievement of certain regulatory and commercial milestones, and governmental approvals. Trinity has also agreed to fund clinical trials and regulatory development costs in those countries for which last September it negotiated exclusive rights to market Remune, ie Thailand, Burma, Indonesia, Cambodia, Singapore, Vietnam, Sri Lanka, Malaysia, Laos and the Philippines.

In addition to the clinical funding and equity investments by Trinity, Immune Response will receive royalties on sales of Remune in these countries, if the product is approved for commercialization.