INTERIM RESULTS ANNOUNCEMENT for the six months ended 30 June 20142nd October 2014 - 2:28 pm
ImmuPharma PLC (LSE:IMM), (“ImmuPharma” or the “Company”), the specialist drug discovery and development company, is pleased to announce its interim results for the six months ended 30 June 2014.
– Announced separately today – Phase III activities of lead compound Lupuzor™ will soon commence: Following advanced discussions and after completing detailed due diligence with a potential partner, ImmuPharma has started the preparatory steps for Lupuzor‘s™ pivotal phase III clinical trials. Before these initial activities are completed, it is expected that a further agreement to develop Lupuzor™ will be finalised and signed which will see ImmuPharma and the potential partner fund the phase III trials. This agreement will also allow the partner to run the phase III pivotal programme based on the strengthened study protocol agreed between ImmuPharma and the FDA.
– Positive amendment to SPA for Lupuzor Phase III trial in place
– £50M equity finance facility secured from Henderson Global’s subsidiary Darwin Strategic to assist with Phase III trial funding
• Scientific Advisory Board comprising worldwide key opinion leaders in lupus in place to guide Phase III clinical development
• Nucant cancer programme IPP-204106
– Phase I/IIa clinical trial with the next generation “polyplexed Nucant” formulation in three European hospitals including the prestigious Institute Jules Bordet in Belgium has recently been completed.
– Trial results and next steps to be announced in the near future.
– Patents granted surrounding an “optically pure” version of the Nucant family.
• In collaboration with the CNRS, access to pioneering research around novel peptide drugs through the University of Bordeaux and the research team incubator, Institut Europeen de Chimie et Biologie (IECB).
• KEY EVENTS
– ImmuPharma were key sponsors and presenters at the 2014 European Lupus Conference in Athens
– Dr Sylviane Muller, the discoverer of Lupuzor™, presented at the Immunology Frontier Research Center at Osaka University in Japan.
• Continued strong cash position as at 30 June 2014 of £5.18m (2013: £7.67m)
• Loss for the period of £1.83m (2013: £1.85m)
• Basic and diluted loss per share of 2.23p (2013: 2.17p)
Commenting on outlook Dimitri Dimitriou, Chief Executive Officer said:
“We are pleased with the progress we made on the advancement of development of our lead compound Lupuzor™ towards Phase III trials. With the updated SPA from the FDA, the appointment of a world-class scientific advisory board and the financing facility with Darwin Strategic, we remain very positive about Lupuzor™’s future. We are also excited by the continued progress of our cancer and novel programs in Bordeaux and look forward to reporting further developments in the coming months.”