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Northland Capital Partners View on the City - ImmuPharma PLC, SalvaRx

Northland Capital Partners View on the City -   ImmuPharma PLC, SalvaRx

ImmuPharma PLC (LON:IMM) – BUY*: L&G increases its holding

Market Cap: £73m; Current Price: 55p; Target Price: 171p

Legal & General increases its holding to 3.35%

ImmuPharma announced that it has received notification by Legal & General Group Plc (L&G) confirming its holding in ImmuPharma of 4,446,545 million Ordinary Shares in the capital of the Company, representing 3.35% of ImmuPharma's total voting rights figure of 132,522,985 Ordinary Shares.

NORTHLAND CAPITAL PARTNERS VIEW: The announcement that L&G increased its stake in ImmuPharma demonstrates the strong interest in the Company’s late-stage clinical drug development programme on Lupuzor, a potential treatment for Lupus. If approved, Lupuzor could achieve multi-billion dollar annual sales.

SalvaRx (LON:SALV) – BUY*: New investment

Market Cap: £11m; Current Price: 29p; Target Price: 149p

Investment in Rift Biotherapeutics Inc.

SalvaRx announced that it has entered into an agreement to invest in Rift Biotherapeutics Inc. (Rift), a private, Delaware-domiciled biotechnology company focused on the development of antibodies for use in oncology.

Under the terms of the agreement, SalvaRx will invest US$1,000,000 for an initial holding of approximately 30% (including new shares issued on the conversion of a US$90,000 convertible loan already provided to Rift) in the company. 

Subject to Rift achieving certain development milestones with this initial funding, SalvaRx has the option to invest up to an additional US$1,500,000 at the same valuation and to acquire all outstanding shares of Rift in exchange for new shares in SalvaRx on the same basis. 

The initial investment has been funded from existing cash resources. 

Rift, an early stage research and development company, was founded in 2015 in order to discover and develop first-in-class antibodies implicated in the inflammatory tumour and tumour infiltrating immune cells microenvironment.

NORTHLAND CAPITAL PARTNERS VIEW: SalvaRx continues delivering on its expansion strategy of building a broad portfolio of immune-oncology assets. Rift represents SalvaRx’s fourth immune-oncology portfolio company. The group has discovered several candidate antibodies to novel immune check point targets. The group’s novel non T-cell based immunotherapy targets offer complementary approaches to the current standard of care in this area. The market for immuno-oncology products is forecast to expand to $80bn by 2020.



1. Northland Capital Partners Limited (“Northland”) acts as Nominated Advisor and/or Broker to the company.

2. Northland) and/or its affiliates companies do beneficially own 1% or more of any class of the issuer’s equity securities, as of the end of the month immediately preceding the date of issuance of the research report or the end of the second most recent month if the issue date is less than 10 calendar days after the end of the most recent month. 

3. The authoring analyst or any associate of the authoring analyst does maintain a long or short position in any of the issuer’s securities directly or through derivatives, including options or futures positions.

4. Northland, its affiliated companies, partners, officers, directors or any authoring analyst of Northland has provided services to the issuer for remuneration during the preceding 12 months other than investment advisory or trading services.

5. Northland or any of its affiliated companies has performed investment banking services for the issuer during the 12 months preceding the date of issuance of the report.  

6. A partner, director, officer, employee or agent of Northland or any of its affiliated companies is an officer, director, employee or advisor of the issuer.  Disclosures are applicable for all companies

7. The authoring analyst, or any associate of the authoring analyst, has viewed the material operations of the issuer. 

8. The authoring analyst, or any associate of the authoring analyst, received reimbursement for travel expenses.

9. Northland makes a market in the securities of this company.

 

 

DISCLAIMER

This document is provided solely to enable clients to make their own investment decisions. It may therefore not be suitable for all recipients and does not constitute a personal recommendation to invest. It does not constitute an offer or solicitation to buy or sell securities or instruments of any kind. If you have any doubts about the suitability of this service, you should seek advice from your investment adviser. This document is produced in accordance with UK laws and regulations. It is not intended for any person whose nationality or residential circumstances may render its receipt unlawful.

The past is not necessarily a guide to future performance. The value of shares and the income arising from them can fall as well as rise and investors may get back less than they originally invested. The information contained in this document has been obtained from sources which Northland Capital Partners Limited believes to be re¬li¬able. The Com¬pany does not warrant that such information is accurate or complete. All estimates and prospective figures quoted in this report are forecasts and not guaranteed. Opinions included in this report reflect the Company’s judgement at the date of publication and are subject to change without notice. If the investment(s) mentioned in this report are denominated in a currency different from the currency of the country in which the recipient is a resident, the recipient should be aware that fluctuations in exchange rates may have an adverse effect on the value of the investment(s). The listing requirements for securities listed on AIM or PLUS markets are less demanding, also trading in them may be less liquid than main markets.

Northland Capital Partners Limited and/or its officers, as¬sociated entities or clients may have a position, or other material interest, in any securities men¬tioned in this report. Northland Capital Partners Limited does not provide recommendations on securities of firms with which it has a corporate relationship. More information about our management of Conflicts of Interest, Investment Research Methodology & Definition of Recommendations can be found at www.northlandcp.co.uk 

Northland Capital Partners Limited is authorised and regulated by the Financial Conduct Authority and a Member of the London Stock Exchange.

Published by/copyright: Northland Capital Partners Limited, 2013. All rights reserved

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