logo-loader

Immupharma confirms £8.4mln fundraise

Published: 10:32 01 Mar 2016 GMT

Immupharma confirms £8.4mln fundraise
Immupharma brought in £8.4mln from the placing and subscription

Shares in ImmuPharma (LON:IMM) nudged higher as it confirmed it had raised a total £8.4mln to advance the potential blockbuster drug Lupuzor.

It comes after it did receive VCT advance assurance and EIS advance assurances from HMRC which it required to raise a further £0.7mln.

The cash will be used to fund its share of the costs of developing Lupuzor, its potential blockbuster drug for the autoimmune disease Lupus, which is currently undergoing phase III clinical trials and also provide the firm with its working capital requirements through to 2018.

Shares added 2.06% on Tuesday Morning to stand at 24.75p.

ImmuPharma CEO Tim McCarthy discusses financial stability and promising drug...

ImmuPharma PLC (AIM:IMM) chief executive Tim McCarthy provides an extensive update during an interview with Proactive's Stephen Gunnion, focusing on the financial, business, and portfolio developments of the company. McCarthy clarified that the company is in a strong financial position,...

3 weeks, 1 day ago