ImmuPharma PLC - London-based drug discovery and development company - Gets confirmation of a pre-investigational new drug meeting with the US Food & Drug Administration, which will take place on May 16. It concerns the phase 2/3 adaptive trial study protocol for P140 in chronic idiopathic demyelinating polyneuropathy. Says the CIDP market is expected to reach global sales of USD2.7 billion by 2029. CIDP is a rare acquired autoimmune disorder of peripheral nerve affecting about 50,000 individuals across the US and Europe.
Chief Executive Officer Tim McCarthy says: "We are delighted to be moving P140 into its second indication for CIDP patients who suffer from a rare disease with high unmet medical need. This is a great example of P140's broad potential."
Current stock price: 2.39 pence each, up 11% on Wednesday morning in London
12-month change: down 58%
By Xindi Wei, Alliance News reporter
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Immupharma (IMM)