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Immupharma confirms £8.4mln fundraise

Shares in ImmuPharma nudged higher as it confirmed it had raised a total £8.4mln to advance the potential blockbuster drug Lupuzor.
Immupharma confirms £8.4mln fundraise
Immupharma brought in £8.4mln from the placing and subscription

Shares in ImmuPharma (LON:IMM) nudged higher as it confirmed it had raised a total £8.4mln to advance the potential blockbuster drug Lupuzor.

It comes after it did receive VCT advance assurance and EIS advance assurances from HMRC which it required to raise a further £0.7mln.

The cash will be used to fund its share of the costs of developing Lupuzor, its potential blockbuster drug for the autoimmune disease Lupus, which is currently undergoing phase III clinical trials and also provide the firm with its working capital requirements through to 2018.

Shares added 2.06% on Tuesday Morning to stand at 24.75p.

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