** Shares of  biotech firm Immunic IMUX.O rise 32% to $1.15 premarket

**  Co says it is raising up to $400 mln to fund late-stage testing of vidofludimus calcium, its experimental pill for multiple sclerosis

** Multiple sclerosis is a progressive disease where the immune system attacks the brain and spinal cord, resulting in symptoms such as impairment of speech and muscle coordination

** Private placement priced at the market, with financing led by existing investor BVF Partners, along with Aberdeen Investments, Janus Henderson Investors, OrbiMed, among others -co

**  Co says the deal includes $200 mln upfront plus another $200 mln in issue of warrants

**  Co expects data on relapsing MS study in 2026, U.S. filing in 2027 and potential launch in 2028 - IMUX

** IMUX to also begin search for new CEO with deep commercial expertise in the MS space, with co-founder and CEO Daniel Vitt planning to transition to new senior executive role

** Shares slumped ~47% in 2025

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))