Oncology specialist Incanthera, in which ImmuPharma currently has a 14.0% shareholding, announces Rule 23 Notice in advance to quoting on NEX Exchange Growth Market17th February 2020 - 10:28 am
ImmuPharma PLC (LSE AIM: IMM – Euronext Growth: ALIMM), a specialist drug discovery and development company, notes that the NEX Exchange Growth Market (“NEX”) has today released a pre-admission announcement under Rule 23 of the intention of Incanthera plc (“Incanthera”), a specialist oncology company, to quote on NEX.
ImmuPharma currently holds a 14.0% shareholding in Incanthera following its subscription for shares in September 2018. Following admission, ImmuPharma will retain 7,272,740 shares in Incanthera, representing 11.9%.
At the time of the subscription, ImmuPharma was also granted warrants to subscribe for additional ordinary shares in Incanthera at any time over five years from the initial subscription. These warrants have been carried over into the new listed plc company and now total 7,272,740 warrants. The exercise price has been rebased to the issue price.
Commenting on the announcement, Dimitri Dimitrou, CEO of ImmuPharma said:
“We are delighted to note Incanthera’s imminent quote on NEX.
“Incanthera’s diverse oncology pipeline has blockbuster potential. We are confident of the medium to long term prospects of the business, but we are particularly excited at the potential near term commercialisation of the lead product Sol, for skin cancer and other topical indications.
“As a major shareholder, with a tangible stake in the future success of Incanthera, we look forward to the creation of further value for our shareholders as Incanthera moves forward”.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. (“MAR”).