INTERIM RESULTS for the six months ended 30 June 2024

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 2024 (the “Period”).

Key Highlights (including post Period review)

Financials

• Loss for the Period of £0.4m (30 June 2023: £0.8m)
• Research and development expenses of £0.5m (30 June 2023: £0.8m)
• Administrative expenses of £0.3m (30 June 2023: £0.4m) • Share based expense of £0.03m (30 June 2023: £0.1m)
• Cash balance of £1.1m as at 30 June 2024 (30 June 2023: £0.2m)
• Derivative financial asset of £0.5m as at 30 June 2024 (30 June 2023: £0.3m) • Basic and diluted loss per share of 0.09p (30 June 2023: 0.25p)

Portfolio
P140 technology platform

• New insights into P140’s mechanism of action (“MOA”) confirms its position as the only non-immunosuppressing therapy in clinical development in the industry for autoimmune diseases
• P140’s MOA support its potential not only for SLE sufferers, but for patients suffering from a multitude of autoimmune diseases that are caused by the same underlying immune system malfunction
• In April 2024, the Company announced that it has initiated a new intellectual property strategy to significantly enhance the patent life and commercial value for its P140 technology platform

SLE (Lupus)

• A Phase 3 dose-range study of P140 continues preparation in collaboration with Simbec-Orion, the designated Contract Research Organisation (“CRO”)
• The new international SLE Phase 3 dose-range study design and protocol is substantially different from the previous Phase 3 clinical trial completed by ImmuPharma in 2018
• •The monthly dose level administered by subcutaneous injection will be significantly higher

CIDP

• A Phase 2/3 adaptive clinical study of P140 in CIDP is planned following positive guidance from a Pre-Investigational New Drug (PIND) meeting with the FDA last year
• An IND application is now close to submission to the FDA, incorporating all guidance points • Simbec-Orion, has been appointed as the CRO for this program

Preclinical Portfolio

• The core anti-infective program with antifungal (BioAMB) and antibacterial (BioCIN) candidates are progressing through pre-clinical studies
• The non-core anticancer collaboration with Orano SA is ongoing

Incanthera

• On 3 June 2024 ImmuPharma divested its investment in shares in Incanthera. All of the 9,904,319 shares held at the year-end were sold at 15p per share realising gross proceeds of £1.5 million.
• Announced today: As confirmed by a separate announcement issued today, the warrants of 7,272,740 held in Incanthera have been extended to 31 March 2025. See separate announcement for full details of the transaction.

Commenting on the statement and outlook Tim McCarthy, CEO and Chairman, said: “We remain committed as a Board, on the development of P140 in SLE and CIDP, our two key late-stage clinical assets, together with securing additional partnering for P140. We have made significant scientific progress over the last period, including refinement of the protocols for the SLE and CIDP studies and new insights into the MOA of P140, and as a result, we have a high level of confidence of the success of these new studies. We will also continue to concentrate on securing further commercial and partnering deals, on which we have made significant progress over the last 6 months. On an operational level, we have continued our focus on tight cost controls and maximising the use of outsourcing to keep our committed overhead costs to the minimum. This is illustrated very clearly in the reduction of our operating loss for the period to £0.4m down from £0.8m for the same period last year. We have also strengthened the balance sheet and extended our cash runway by successfully selling our shareholding in Incanthera, whilst still retaining a further 7.3 million warrants. We look forward to providing further updates on the progress of our pipeline and commercial deals throughout the remaining period of 2024 and moving into 2025. In closing, we would like to thank our shareholders for their support as well as our staff, corporate and scientific advisers and our partners including CNRS and Avion.”

To view Interim results click here

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