ImmuPharma ponders funding

Drug discoverer ImmuPharma is understood to be contemplating raising between £1.5 million and £5 million at around 60p to fund developments with a range of products. These include Lupuzor, its key IPP-201101 treatment candidate for Lupus Erythematosus, a chronic auto-immune disease that damages skin, joints, blood vessels, various organs and the nervous system.

The AIM-quoted company awaits the results of a 200-patient Phase IIb efficacy study for Lupuzor, due this autumn. Recently, ImmuPharma announced that pre-clinical trial data showed that another of its products, IPP-204106, could curb the growth of many human cancer cell lines, with ‘in vivo’ studies showing most tumours completely eradicated and survival time increased without additional treatment.

Richard Warr, chairman of London-based ImmuPharma, commented on IPP-204106, ‘This exciting new drug has tremendous commercial potential if it meets its target profile of preventing tumour growth as well as metastasis while being non-toxic.’ But most analysts see Lupuzor as the company’s biggest potential winner.

ImmuPharma is in collaboration with CNRS, the national scientific research centre of France, which is providing it with access both to leading scientists and possible grant opportunities. Being a development company, ImmuPharma lost £3.3 million last year, which it closed with cash of £2.9 million.

Shares in ImmuPharma have fluctuated between 40.5p and 84.5p over the past three years and now stand at 65.75p, valuing the company at £48 million. They offer significant speculative potential over the medium term.