Lanstead - sharing agreement2 Dec 2019 08:30
The group said the sharing agreement provides the opportunity for the company to benefit from positive future share price performance.
Immupharma said the proceeds of the subscription will be used primarily to fund the execution of its corporate strategy, as announced on 7 May 2019, including progressing Lupuzor through both corporate partnerships and regulatory pathways and proactively pursuing the 'spin-off' of the subsidiary companies, Ureka and ELRO, in order to unlock their future potential and enhance value to shareholders.
Commenting on the share subscription, ImmuPharma's Chairman, Tim McCarthy, said: ”Lanstead has been very supportive of the Company since their first investment in 2016 and this latest subscription demonstrates their continued support and the alignment of both the Company and Lanstead's belief of the potential of substantial value enhancement for shareholders in the future execution of the Company's recently stated corporate strategy."