Immupharma PLC Accelerated Bookbuild for the Issue of Equity (0838Z)
10 March 2017 - 6:00PM
UK Regulatory
TIDMIMM
RNS Number : 0838Z
Immupharma PLC
10 March 2017
10 March 2017
ImmuPharma PLC
("ImmuPharma" or the "Company")
Accelerated Bookbuild for the Issue of Equity
ImmuPharma PLC (LSE:IMM), the specialist drug discovery and
development company, is pleased to announce a proposed placing,
raising a minimum of GBP3 million (before expenses), via the issue
of new ordinary shares of 10p each ("Ordinary Shares") to new and
existing investors (the "New Share Placing").
The New Share Placing will provide ImmuPharma with additional
working capital and will further strengthen the Company's balance
sheet as negotiations continue with potential partners for
Lupuzor(TM), its lead programme currently in a pivotal Phase III
trial. Additionally, further investment in ImmuPharma's earlier
stage portfolio and in its P140 peptide platform is also
planned.
The New Share Placing is being offered by way of an accelerated
bookbuild ("Bookbuild"), which will be launched immediately
following this announcement. It is proposed that the New Share
Placing will be executed at a price of 52p per share (the "Placing
Price"). Northland Capital Partners Limited will be acting as sole
bookrunner in connection with the Bookbuild.
It is expected that the finalisation of the Bookbuild will
commence shortly after the Bookbuild's launch is announced and a
further announcement will be made to confirm its completion in due
course.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 ("MAR"). In addition,
market soundings (as defined in MAR) were taken in respect of the
Placing with the result that certain persons became aware of inside
information (as defined in MAR), as permitted by MAR. This inside
information is set out in this Announcement. Therefore, those
persons that received inside information in a market sounding are
no longer in possession of such inside information relating to the
Company and its securities.
-Ends-
For further information please
contact:
+ 44 (0) 20
ImmuPharma plc (www.immupharma.org) 7152 4080
Tim McCarthy, Chairman
Lisa Baderoon, Head of Investor
Relations + 44 (0) 7721
Twitter: @immupharma 413496
Northland Capital Partners Limited
(NOMAD & Broker)
Patrick Claridge, David Hignell,
Michael Mackintosh, Corporate
Finance +44 (0)20 3861
Rob Rees, Corporate Broking 6625
Notes to Editors
ImmuPharma PLC
ImmuPharma is a pharmaceutical development company listed since
2006 on AIM of the London Stock Exchange (LSE:IMM), focusing on
developing novel medicines with high sales potential in specialist
markets with serious unmet need. ImmuPharma is led by a
commercially focused Board and management team with extensive
experience.
Lupuzor(TM)
Lupuzor(TM) (also referred to as Forigerimod, or P140) is
ImmuPharma's lead compound and a potential treatment for lupus (or
Systemic Lupus Erythematosus), a chronic, potentially
life-threatening auto-immune disease. Lupuzor(TM) has a novel
mechanism of action aimed at modulating the body's immune system so
that it does not attack healthy cells, and avoids causing adverse
side effects. It has the potential to halt the progression of the
disease in a substantial proportion of patients.
Lupuzor(TM) has been granted Fast Track status by the US FDA and
approval under Special Protocol Assessment (SPA) for its ongoing
Phase III trial.
The pivotal Phase III clinical study is entitled "A 52-Week,
Randomized, Double-Blind, Parallel-Group, Placebo-Controlled Study
to Evaluate the Efficacy and Safety of a 200-mcg Dose of IPP-201101
Plus Standard of Care in Patients With Systemic Lupus
Erythematosus". It is a pivotal study designed to demonstrate the
safety and efficacy of IPP-201101 and as a last step prior to the
filing of the drug for approval with the US Food & Drug
Administration ("FDA") and the European Medicines Agency ("EMA").
For more information please visit:
www.ClinicalTrials.gov/lupuzor
Commercial Opportunity
There are an estimated five million people globally suffering
from Lupus, with approximately 1.5 million patients in the US,
Europe and Japan (Source: Lupus Foundation of America). Current
'standard of care' treatments, including steroids and
immunosuppressants, can potentially have either serious side
effects for patients or limited effectiveness, with over 60% of
patients not adequately treated. GSK's Benlysta is the first Lupus
drug approved in over 50 years and paves the path to market for
Lupuzor(TM). Based on conservative estimates, and taking into
account that Benlysta is priced currently at approximately $30,000
per patient per year, Lupuzor(TM) would be entering a market with
the potential for multi-billion dollar sales. For more information
on Lupuzor(TM) please visit: www.lupuzor.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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