ImmuPharma PLC (AIM:IMM, OTC:IMMPF), a clinical-stage biopharmaceutical company, is on the cusp of a major breakthrough in the development of a new lupus treatment, according to chief executive officer Tim McCarthy.
In a video interview with Proactive Investors, McCarthy said that the company has put "an awful lot of effort" into its lupus program over the past two years.
He acknowledged that there have been some delays and frustrations, but said that ImmuPharma is "in a very highly regulated business" and "have to get it right."
McCarthy expressed confidence in the new programme, saying that the "guidance we got back from FDA is spot on".
He also pointed to the recent approvals of two other lupus drugs, Benlysta from GSK PLC (LSE:GSK, NYSE:GSK) and Saphnelo from AstraZeneca PLC (LSE:AZN), both of which had "hiccups" on the way to approval.
"We're following a similar path," McCarthy said. "And yeah, it's gonna be a very exciting time for everybody."
McCarthy also said that ImmuPharma is receiving a lot of positive feedback from patients who have participated in the company's clinical trials.
"They've got a lot of benefit actually, from taking that drug," he said. "And they're as excited as we are to see it moving forward."
The company has said that it is in discussions with a number of potential partners to help it develop and commercialise its lupus drug.
"It's an exciting time for ImmuPharma," McCarthy said. "We're on the cusp of a major breakthrough."