Last checked at 17 Feb 2020 08:00
ImmuPharma PLC
("ImmuPharma" or the "Company")
Oncology specialist Incanthera, in which ImmuPharma currently has a 14.0% shareholding, announces Rule 23 Notice in advance to quoting on NEX Exchange Growth Market
ImmuPharma PLC (LSE AIM: IMM - Euronext Growth: ALIMM), a specialist drug discovery and development company, notes that the NEX Exchange Growth Market ("NEX") has today released a pre-admission announcement under Rule 23 of the intention of Incanthera plc ("Incanthera"), a specialist oncology company, to quote on NEX.
ImmuPharma currently holds a 14.0% shareholding in Incanthera following its subscription for shares in September 2018. Following admission, ImmuPharma will retain 7,272,740 shares in Incanthera, representing 11.9%.
At the time of the subscription, ImmuPharma was also granted warrants to subscribe for additional ordinary shares in Incanthera at any time over five years from the initial subscription. These warrants have been carried over into the new listed plc company and now total 7,272,740 warrants. The exercise price has been rebased to the issue price.
Commenting on the announcement, Dimitri Dimitrou, CEO of ImmuPharma said:
"We are delighted to note Incanthera's imminent quote on NEX.
"Incanthera's diverse oncology pipeline has blockbuster potential. We are confident of the medium to long term prospects of the business, but we are particularly excited at the potential near term commercialisation of the lead product Sol, for skin cancer and other topical indications.
"As a major shareholder, with a tangible stake in the future success of Incanthera, we look forward to the creation of further value for our shareholders as Incanthera moves forward".
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. ImmuPharma's LEI (Legal Entity Identifier) code: 213800VZKGHXC7VUS895.
About Incanthera Limited
Incanthera Limited was formed in 2010 as a spin-out from the Institute of Cancer Therapeutics at Bradford University and is targeting the treatment of cancer through a portfolio of unique technologies. Having successfully commercialised its lead product in 2017, it is actively acquiring and developing technologies to further enhance its portfolio of cancer therapeutics. For more information, please visit www.incanthera.com
About NEX
NEX Exchange (formerly known as ISDX) is the ICAP Securities and Derivatives Exchange. The NEX Exchange Growth Market is an equity market for small and medium-sized ambitious, growth enterprises. Typically its admission requirements are less stringent than those for quoting on AIM.
In accordance with Rule 23 of the Growth Market Rules, a NEX Exchange Corporate Adviser must submit the information no less than 10 business days prior to the intended admission date, and NEX Exchange will release the pre-admission announcement by RIS under the heading "NEX Exchange" on the date of submission of the form.