Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Legal & General ups stake in ImmuPharma

L&G upped its stake in the recent £4.1mln fundraising, and now holds a 3.5% stake in ImmuPharma
Legal & General offices
Analysts said L&G's increased stake was indicative of the interest now being shown in ImmuPharma from institutions

Insurance giant Legal & General Group Plc (LON:LGEN) has upped its stake in the AIM-listed specialist drug developer ImmuPharma PLC (LON:IMM).

L&G upped its stake in the recent £4.1mln fundraising, and now holds 4.45mln ImmuPharma shares representing 3.5% of the issued share capital.

“We are delighted to be able to disclose Legal & General's increased holding in ImmuPharma as one of our existing major institutional investors which participated in our recent successful £4.1 million fundraising demonstrating its continued support for ImmuPharma,” said chief executive Tim McCarthy.

City broker Northland Capital said L&G taking a larger piece of the pie was indicative of the kind of interest ImmuPharma is now generating among institutional investors.

“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,” said Northland analyst Vadim Alexandre.

“If approved, Lupuzor could achieve multi-billion dollar annual sales.”

Shares in ImmuPharma were modestly lower at 53.5p on Monday afternoon.

View full IMM profile

ImmuPharma PLC Timeline

Related Articles

Pills and the EU stars
July 19 2016
Alliance's swoop for Sinclair Healthcare Products in December helped it rack up first-half sales of £46.4mln
Concept of a DNA strand
February 14 2017
Proactive Investors takes a closer look at an AIM-listed biotech firm that is making advances altering the inner workings of the human body to tackle deadly diseases
Knee surgery
February 02 2017
The treatment involves removing cellular material from animal and human tissue to leave a matrix which gives a framework for population by the patient’s own cells.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use