Corporate Update7th May 2019 - 11:36 am
ImmuPharma PLC (LSE: IMM), the specialist drug discovery and development company provides an update on ongoing activities.
Lupuzor™ is the Company’s late stage asset for Lupus, a potential life threatening auto-immune disease. Following the conclusion of the pivotal Phase III trial in 2018, ImmuPharma continues to look at opportunities which the Board believes over the longer term have the potential of bringing Lupuzor™ to market. As part of this strategy, the Company confirms that it continues to engage with potential corporate partners as well as consulting with regulatory advisors on potential pathways to market. Whilst these activities continue, the commencement of the Managed Access Program for Lupuzor™ will be postponed until the Company has further clarification on these activities.
Lupuzor™ Extension Study
The Lupuzor™ open label extension study, from the original Phase III trial, with a total of 62 eligible patients recruited throughout the US and Europe, remains on track to report results in Q2 2019.
Merger of Elro Pharma and Ureka
ImmuPharma’s subsidiaries Elro Pharma Sarl and Ureka Sarl, both based in France, are focussing on unique technologies: the Nucant cancer programme (Elro) and the peptide platform (Ureka).
As previously announced, the Company has been exploring its options to licence, divest or ‘spin-off’ the technologies of both of these subsidiaries to unlock their future potential and enhance value to shareholders.
Following an internal review, the Company’s intention is to merge these two subsidiaries, in order to create a stronger combined company with a platform technology together with a drug candidate in clinical development, with a view to securing external investment either from private equity or through a public listing on a European stock exchange. This in turn would allow ImmuPharma PLC to focus on Lupuzor™ and the overall P140 platform for different auto-immune indications. Further details will be announced in due course.
Further to the announcement of 1 April 2019, all discussions with Incanthera on the Nucant cancer programme and broader collaboration discussions have now terminated.
ImmuPharma will provide a further update on its operations and strategy in its Final results for the year ended 31 December 2018, which are expected to be announced by the end of this month.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. (“MAR”)