Last checked at 29 Sep 2020 07:00
29 September 2020
ImmuPharma plc
("ImmuPharma" or the "Company")
Share Subscription into Incanthera plc
("Incanthera")
ImmuPharma PLC (LSE:IMM), (Euronext Growth Brussels: ALIMM), the specialist drug discovery and development company, announces that further to a subscription agreement entered into at the time of Incanthera's IPO onto AQSE Growth Market* in February 2020, ImmuPharma has now executed its subscription agreement to subscribe £250,000 for 2,631,579 ordinary shares of 2p each at a subscription price equal to Incanthera's IPO price of 9.5p each.
Following this subscription, ImmuPharma will hold 9,904,319 shares in Incanthera, representing a 15.35% position in the enlarged share capital of Incanthera.
ImmuPharma notes two recent positive announcements from Incanthera regarding studies of its lead product Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers. These announcements can be viewed on Incanthera's website:
http://www.incanthera.com/news-media/news/2020/september/successful-results-of-permeation-study/
http://www.incanthera.com/news-media/news/2020/september/successful-results-of-sensitisation-study/
Commenting on the announcement, Dimitri Dimitriou, ImmuPharma's Chief Executive Officer said:
"ImmuPharma is a strong supporter of Incanthera, sharing common goals of progressing both of our therapeutic pipelines to benefit the long term health of patients, globally.
We are extremely pleased to note Incanthera's two recent announcements, evidencing great progress towards its immediate goal of taking its lead product Sol to market."
*Formerly known as NEX Exchange Growth Market
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, anti-infectives, metabolic diseases and cancer.
The lead program, Lupuzor™, is a first-in class autophagy immunomodulator which is in Phase III for the treatment of systemic lupus erythematosus (lupus / SLE). Lupus is an autoimmune disease which if left untreated can be fatal. Preclinical analysis suggests therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action. ImmuPharma and Avion Pharmaceuticals signed on 28 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.co.uk.
ImmuPharma's LEI (Legal Entity Identifier) code: 213800VZKGHXC7VUS895.
About Incanthera plc
Incanthera (AQSE: INC), is a specialist oncology company focused on transforming cancer treatment by creating environments in which cancer cannot survive. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading academic institutions.
The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford and has acquired and developed a portfolio of specific cancer-targeting therapeutics through a Pipeline Agreement with the ICT and other corporate acquisitions.
Incanthera's strategy is to develop each candidate in the portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.
The Company's current lead product and focus is Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers.
For more information please visit: www.incanthera.com