RE: Update from our AGM correspondents13 Jun 2025 09:40
Well that was an interesting morning! Firstly, I was amazed with the low turnout. I expected maybe 50 – 100 people but there were just 5 individual investors including myself. The rest of the room was made up of Board Members and brokers, approximately 18-20 people in total! (No sign of Tiger or his city chums)
You’ll be please to know that Tim’s feet were held firmly on the fire by me and other shareholders (he’s probably got his feet in some ice cold water right now). Tim opened the meeting with introductions and then the format for the meeting in which Tim asked that we get the formalities out of the way first including voting on the resolution and then open the meeting to discussion. I said that I didn’t feel comfortable voting on the resolutions until fundamental questions about the company had been addressed. It was agreed that the format be changed so questions could be asked, and most importantly answered prior to voting on the resolutions.
I’m not going to go into every detail but hopefully address some of the burning question.
The lords question – What is happening with the Lupozor Phase 2/3 trial? – The first thing to note here is that Lupozor and P140 are the same. Effectively it’s renamed as P140 because of the discovery that of its unique ability to deal with other auto-immune diseases. So trials have not been resumed yet because they want to take the time to carry out more research to ensure the best selection of patients for the trials so they get the best results which in turn will maximise value of the drug. Tim openly admitted that they f**k up the previous Lupozor trial and the lessons had been learnt which is why they won’t be rushing it again.
I asked Tim about the statement he made earlier this year “this is the year of delivery”. I asked, “how’s it going, when and what will you be delivering”. He has pledged to file the patents globally and we should also expect a licensing deal. This is massive and I got a great deal of comfort from Tim and the other board members when they explained the timing and strategy behind filing the patents.
I and other suggested that regular RNS’s would be appreciated by shareholders. It doesn’t need to and shouldn’t compromise the potential of Immuparma but silence is making people nervous. I hope Tim took this on-board and will release an RNS in the next couple of weeks, let’s see!
I focused quite a bit on the body language of the scientists. It was very clear to me that P140 has ground breaking potential hear and there is no doubt in my mind that Dr Sébastien R. Goudreau and Dr Laura Mauran-Ambrosino were containing their excitement about P140.
My other take-home was that there are clearly other drugs in development that will add significant value to the company. They were quite rightly tight lipped about that but clearly there’s a lot of work going on in the background.
In summary, I’m a happy but still poor farmer but expec
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