Immune Response will terminate $15 million equity line

By Sheri Kasprzak

New York, May 2 - Immune Response Corp. plans to cancel its previously announced $15 million standby equity distribution agreement with Cornell Capital Partners, LP.

The two-year agreement was entered into with Cornell on July 18, 2005.

The equity line will be terminated within 20 days.

Immune Response has already drawn a total of $5.1 million from the line.

In other news, Immune Response repaid in full a $1 million secured convertible debenture held by Cornell. The 12% debenture would have been due on Aug. 4. The debenture was convertible at $0.6315 each.

Based in Carlsbad, Calif., Immune Response develops immune-based therapies for HIV and multiple sclerosis.

The company's stock gained 5.83%, or $0.007, to close at $0.127 Tuesday (OTCBB: IMNR).

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