Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

ImmuPharma banks extra £600,000 from Lanstead agreement

The better-than-expected outcome reflects a trebling in the share price of Immupharma
picture of accounts
The agreement has worked for both parties

Lupus drug developer Immupharma PLC (LON:IMM) has raised £600,000 more than expected from its equity sharing agreement with financier Lanstead Capital, banking £5mln instead of the £4.4mln originally estimated.

The better than expected outcome reflects a trebling in the share price of Immupharma to 82p following increasingly upbeat statements about the progress of the Phase III trial of Lupuzor, its flagship Lupus treatment. Top-line Phase III results are due in the first quarter of 2018.

WATCH: Immupharma 'looking forward and planning for success' with Lupuzor

Immupahrma and Lanstead set up the facility in Feburary 2016, when the drug developer also raised £3.9mln through a placing at 26p.

Tim McCarthy, ImmuPharma’s chairman said in a statement: "Lanstead has been an important supporter of ImmuPharma and we are delighted how effectively the Sharing Agreement has worked for both parties.

READ: Immupharma starts preparations for Lupuzor submission as trial makes good progress

Nicholas Malins-Smith of Lanstead added: “Through the Sharing Agreement with Lanstead, ImmuPharma has been able to benefit, through the increase in its share price, by securing additional funds over and above the original subscription amount.”


View full IMM profile View Profile

ImmuPharma PLC Timeline

Related Articles

Drug discovery
April 04 2018
In the group’s 2017 results statement at the end of March, Ray Barlow - who took over as CEO on 6 April 2017 - commented: “We are now focused on the right activities"
July 11 2018
Valirx raised just short of a £1mln in May to progress the clinical trial of VAL201 and to advance the pre-clinical programmes, VAL101 and VAL301.
researcher filling a vial
July 16 2018
The US Food & Drug Administration has given the company investigational new drug clearance for MCY-M11, a chimeric antigen receptor that targets solid tumours

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors 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