ImmuPharma PLC (LON:IMM), the specialist drug discovery and development company, has today announced its interim results for the six months ended 30 June 2017 (the “Period”).
Key Highlights
· Lupuzor™: is the Company’s lead program for the potential breakthrough compound for Lupus a potential life threatening auto-immune disease
§ Total 11 sites active in US with 70 patients
§ Five European countries with 81 Lupus patients taking part in the trial: Czech Republic, France, Germany, Hungary and Poland
§ One Mauritius site with 49 Lupus patients included in trial
· Most recent update on progress of Lupuzor™ trial announced on 21 September 2017
· Top line results on track to report in Q1 2018
· As announced on 26 September 2017, first steps initiated for Lupuzor’s™ regulatory submissions
· £4.1 million fundraising (before expenses) successfully completed in March 2017
· Northland Capital Partners appointed as sole broker and NOMAD
· Stable financial performance over the Period, in line with market expectations
o Net assets of £6.4 million (31 December 2016: £5.5 million)
o Loss for the Period of £3.0 million (H1 2016: £3.7million)
§ Research and Development expenses of £2.3 million (H1 2016: £2.5 million)
o Basic and diluted loss per share of 2.34p (H1 2016: 3.35p)
· New employee share option plan implemented in March 2017 to continue to attract and retain key individuals
· ‘Investor’ Event on 30 June 2017
o ImmuPharma successfully hosted a technology symposium on Friday 30 June following the Company’s AGM. The event attended by institutional and private investors included presentations from key management on the three core technology platforms. The video of the presentation can be seen on http://www.immupharma.co.uk/media/events
· New ImmuPharma website launched: www.immupharma.co.uk
Commenting on the Interims and outlook Tim McCarthy, ImmuPharma PLC Chairman, said: “Ensuring that our pivotal Phase III Lupuzor™ trial progresses on track remains a key focus for ImmuPharma.
“We recently announced that all patients in the study have now passed the six months stage, with over 26% of patients having now completed the full 12 months. With a continued robust safety record, we are looking forward with confidence and planning for a successful outcome of the study with all patients completing the treatment protocol in the coming months and to reporting top-line results in Q1 2018.
“Having successfully completed a £4.1 million fundraising (before expenses) in March, the Board would like to thank its shareholders for their continued support, as well as its staff, corporate and scientific advisors and the CNRS for their ongoing collaboration.”
