SMALL CAP MOVERS: ImmuPharma nearly trebles in value as US deal resurrects flagship lupus drug29th November 2019
AIM saw a resurrection this week as small cap biotech ImmuPharma secured a deal worth almost $100million for Lupuzor, it’s treatment for the autoimmune disease lupus.
US speciality drugs group Avion Parmaceuticals will fund the $25million in costs of a reformatted phase III clinical trial next week following the agreement of a trial design with the US Food & Drug Administration.
The UK group will receive up to $70million of milestone payments, with $5million due on regulatory approval of the product and a further $65million dependent on sales targets.
DAILY MAIL – 29 November 2019
By Callum Muirhead at Proactive Investors for This is Money
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