Last checked at 13 Dec 2019 07:00
RNS | 13 December 2019
ImmuPharma PLC
("ImmuPharma" or the "Company")
Dual Listing on Euronext Growth Brussels
ImmuPharma PLC (LSE:IMM), a specialist drug discovery and development company is pleased to announce that its shares will be admitted to trading on Euronext Growth Brussels ("Euronext") under ticker 'ALIMM' following the approval by Euronext of its request for listing. Admission is expected to take effect from 19 December 2019. This new listing does not affect the trading of ImmuPharma's shares on AIM, nor is there any intention from the Company to raise additional funds from either AIM or Euronext.
The dual listing on Euronext Growth Brussels aims to further increase the visibility of ImmuPharma's shares in continental Europe where the Company is conducting its R&D activities in France and Switzerland. In addition to AIM, this dual listing on Euronext allows ImmuPharma to join the number one European stock exchange for Life Sciences and the world's second biggest for biotech companies after the United States.
Commenting on the dual listing on Euronext Growth, Dimitri Dimitriou, ImmuPharma's Chief Executive Officer, said:
"This dual listing on Euronext Growth Brussels gives ImmuPharma additional visibility among European investors. Having our shares listed on Europe's largest financial market for biotech companies is in line with the new page in ImmuPharma's future following our recent deal with Avion Pharmaceuticals, who are now funding an international Phase III trial for our lead programme, Lupuzor™. The investment thesis for ImmuPharma and specifically Lupuzor™ has been repositioned and we look forward to providing further progress updates on the Phase III program with Avion, as well as entering into additional partnerships outside of the US. We are confident that our listing on Euronext Brussels will allow us to meet and develop relations with a community of new investors in continental Europe".
Benoît van den Hove, Head of Listing at Euronext Brussels said:
"We are delighted to welcome ImmuPharma on Euronext Growth, and look forward to welcome the Company's management team in Brussels. This secondary listing in Brussels demonstrates the attractiveness of Euronext as a leading venue for biotech and life sciences companies in Europe, even outside our domestic markets. With this operation, ImmuPharma joins the large franchise of 106 Life Science companies (61 Biotech and 45 Medtech companies) currently listed on Euronext's markets, representing a total market capitalisation of €28.5 billion (end of October 2019)".
As required by the Euronext Growth Market Rules Book and Belgian financial regulations, an Information Note will be published ahead of listing. Publication is expected to be made on Tuesday 17 December 2019, at which point it will be available on our website www.immupharma.co.uk.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. ("MAR")
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Notes to Editors
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM - Euronext Growth: ALIMM) is a specialty biopharmaceutical company that discovers and develops peptide-based therapeutics. The Company's portfolio includes novel peptide therapeutics for autoimmune diseases, metabolic diseases and cancer. The lead program, LupuzorTM, is a first-in class autophagy immunomodulator which is in Phase III for the treatment of lupus and preclinical analysis suggest therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action. ImmuPharma and Avion Pharmaceuticals signed on 29 November 2019, an exclusive licence and development agreement and trademark agreement for Lupuzor™ to fund a new international Phase III trial for Lupuzor™ and commercialise in the US. For additional information about ImmuPharma please visit www.immupharma.com.
About Avion Pharmaceuticals
Avion Pharmaceuticals, LLC is a US-based specialty pharmaceutical company formed to develop, acquire and market a portfolio of innovative pharmaceutical products in the Women's Health and other therapeutic categories aligned with our mission to improve the quality of patient lives. Avion Pharmaceuticals focuses on identifying opportunities to develop, acquire and enhance the market potential of innovative, commercially available therapeutics and late-stage development drugs to fulfil unmet medical needs. For additional information about Avion Pharmaceuticals, visit www.avionrx.com.
About Lupuzor™ and Lupus
Lupuzor™ is ImmuPharma's lead compound, a peptide therapeutic and a first-in class autophagy immunomodulator for systemic lupus erythematosus (SLE or lupus) a potentially life-threatening auto-immune disease. Lupus is a chronic inflammatory disease which is thought to affect some 5 million individuals worldwide. The current standard of care still consists of drugs which have many side-effects and limited efficacy. Despite the need for an effective treatment, only one new therapy, namely GlaxoSmithKline's Benlysta, has been approved to treat the condition over the past 50 years. As such, there clearly exists an unmet medical need for a drug that has a strong efficacy and safety profile.