Last checked at 18 Dec 2023 07:15
18 December 2023
ImmuPharma PLC
("ImmuPharma" or the "Company")
Incanthera Secures Commercial Skincare Deal & £1M Fundraise
ImmuPharma PLC (LSE AIM: IMM), the specialist drug discovery and development company, is delighted to highlight the announcement issued this morning by Incanthera plc ("Incanthera"), the dermatology and oncology specialist, in which ImmuPharma currently holds a 12.7% shareholding.
Within the announcement, Incanthera announces a significant commercial skincare deal with Marionnaud (part of the A.S. Watson Group) initially across Europe and further roll outs in Asia. It confirmed that this deal is expected to generate significant revenues and profitability for Incanthera, in 2024 and beyond.
In conjunction Incanthera announces that it has concluded a successful fundraise of £1,000,000, with new and existing institutional investors which was oversubscribed, and is priced at £0.07, a premium of 11.1% to the mid-market price at the close of trading on Friday 15 December 2023.
Incanthera trades on Aquis Stock Exchange ("AQSE") under the ticker (AQSE:INC). For full details of the announcement, please visit Incanthera's website: https://incanthera.com/investors/regulatory-news/.
Commenting on Incanthera's announcement, Dr Tim Franklin, COO of ImmuPharma said: "As a major shareholder in Incanthera, we are delighted with this significant milestone, which highlights the enormous opportunities within Incanthera's revolutionary skincare range."
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Notes to Editors
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM) is a specialty biopharmaceutical company that discovers and develops peptide-based therapeutics. The Company's portfolio includes novel peptide therapeutics for autoimmune diseases and anti-infectives. The lead program, P140 (Lupuzor?), is a first-in class autophagy immunomodulator for the treatment of Lupus and preclinical analysis suggest therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action.
For additional information about ImmuPharma please visit www.immupharma.co.uk
ImmuPharma's LEI (Legal Entity Identifier) code : 213800VZKGHXC7VUS895.
About Incanthera plc
Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.
Incanthera originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford. Incanthera's strategy is to develop each candidate in its portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.
For more information on Incanthera please visit: www.incanthera.com