logo-loader

ImmuPharma tops up funds as Lupuzor trial progresses

Published: 09:57 21 Oct 2016 EDT

picture of pound note and coins
Funds will help pay for Lupuzor phase III trial

ImmuPharma PLC (LON:IMM) is to raise £800,000 to fund the ongoing phase III trial of its lupus treatment Lupuzor.

A bookbuild at 35p was held alongside a placing of 7.1mln shares held by Lanstead Capital.

Lanstead has a £4.4mln equity facility with the drug developer that was set up in February.

That agreement was set at a price of 26p per share but Immupharma’s share price has risen strongly since then.

As a result, Lanstead has brought forward the next six monthly payments, worth £1.5mln in total.

Immupharma said that this cash and the placing funds woul dbe used on Lupuzor’s ongoing phase III trial.

Some 200 patients will have been for the trial by the end of the year, Immupharma said last month.

Top line data is expected by the end of 2017.

Lupus is an as-yet incurable immune system disease, it can cause joint pain and fatigue, as well as damage to the skin and other organs.

There are 5mln sufferers globally and if successful Lupuzor could be a potential block buster drug analysts suggest.

ImmuPharma "absolutely delighted" to push on with new clinical trial

ImmuPharma PLC (AIM:IMM, OTC:IMMPF) chief executive Tim McCarthy visited Thomas Warner at the Proactive London studio after confirming to the market that the specialty biopharmaceutical will be moving forward into a key phase 2/3 adaptive clinical trial, alongside its US partners Avion...

on 06/27/2023