ImmuPharma PLC (AIM:IMM, FRA:25I), the drug discovery company, says it is in active discussions with potential global commercial partners for its lead autoimmune therapy P140, with management targeting a licensing transaction this year.
The update came as the company published final results for the 12 months to 31 December, with chief executive Tim McCarthy describing the period ahead as "pivotal."
P140, a technology platform targeting autoimmune diseases, remains ImmuPharma's core asset and principal value driver.
The programme received a scientific update last month, highlighting a first combined search and examination report for its UK patent application, supported by new study data.
A scientific manuscript is now being prepared for submission to a peer-reviewed journal.
P140 is being developed alongside a companion diagnostic platform called Type M, designed to identify patients most likely to respond to treatment, enabling what the company describes as a precision medicine approach.
Alongside P140, ImmuPharma has accelerated development of Kapiglucagon, a proprietary glucagon prodrug (a compound that converts into an active drug inside the body) aimed at metabolic disease and Type 1 diabetes.
The drug is designed to overcome the formulation instability of native glucagon, with potential use in dual-hormone artificial pancreas systems.
The company has begun activities to support an investigational new drug (IND) application, including preparation for a pre-IND meeting with the US Food and Drug Administration.
ImmuPharma said Kapiglucagon also represents a future partnering opportunity, noting the company retains full ownership of the asset.
The board made several appointments during the period, promoting Dr Sébastien Goudreau to chief scientific officer and Dr Laura Mauran-Ambrosino to head of research and development, while Ketan Patel joined as an independent non-executive director.
On the financial side, the company reported a loss of £1.8 million for the period, narrowing from £2.5 million in 2024, with research and development spending broadly stable at £1.3 million.
Cash stood at £1.4 million at the year end, up from £0.2 million, and was further strengthened by a £6.47 million fundraise completed in April at 6p per share.