ImmuneOnco Biopharmaceuticals (Shanghai) (HKG:1541) has completed the placement of 33,150,000 shares to at least six investors at HK$7.05 apiece to raise net proceeds of HK$229.7 million, a Thursday bourse filing said.

The shares represent around 8.14% of the pharmaceutical company's enlarged issued share capital.

The company will use proceeds from the placement to fund clinical studies of different drugs.