It also said it is consulting with regulatory advisors on "potential pathways to market".
This follows the not wholly successful conclusion of phase III trials last year, though ImmuPharma believes the drug has market potential.
But, while talks with putative partners and advisors take place, the firm has put on hold a managed access programme for Lupuzor.
An extension study of the drug, meanwhile, is on track to report results this quarter.
Looking at the company’s other activities, management has decided to merge the France-based Elro Pharma and Ureka businesses “with a view to securing external investment either from private equity or through a public listing”.
“This in turn would allow ImmuPharma to focus on Lupuzor and the overall P140 platform for different autoimmune indications,” it added.
Finally, collaboration discussions with a company called Incanthera Limited have ended.
The shares rose 3% to 10.08p.
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