ImmuPharma PLC (AIM:IMM, FRA:25I), the specialist drug discovery and development company, says it is actively progressing partnering discussions for its lead autoimmune technology platform, P140, as its primary strategic focus for 2026.
The update came in a chairman's letter to shareholders following approval of two fundraising resolutions at a general meeting.
Resolution 1, covering a £6 million Lanstead subscription, passed with 91.46% support, while Resolution 2, relating to a £468,000 WRAP retail offering, received 88.91% backing.
The combined £6.5 million raise extends the company's cash runway to at least the second half of 2028, which chairman Tim McCarthy said would allow ImmuPharma to negotiate a P140 licensing agreement from a position of financial strength.
P140 is a peptide-based candidate targeting autoimmune conditions, including lupus.
McCarthy said the programme's commercial positioning had been further reinforced by the first Combined Search and Examination Report for its UK patent application, issued alongside new study data in a March update, with a scientific manuscript now being prepared for submission to a peer-reviewed journal.
The fundraise also provides capital to advance ImmuPharma's second key asset, Kapiglucagon, a treatment candidate for type 1 diabetes.
The company said it has initiated an accelerated two-year development program for Kapiglucagon, with regular progress updates expected as the asset advances toward potential partnering opportunities of its own.
The Lanstead subscription is structured around an 8p benchmark price, meaning ImmuPharma could benefit from future share price appreciation through a sharing arrangement tied to that reference point.