Streamlined ImmuPharma pushes ahead with drug research efforts
Last updated: 07:50 14 Mar 2024 GMT, First published: 12:38 03 Nov 2020 GMT
Snapshot
- ImmuPharma to take part in "premier partnering event"
- Moderna, Legend Biotech advanced to the major league from the minors. But how do you spot a rookie company ready to move to the ‘show’?
- ImmuPharma CEO Tim McCarthy discusses financial stability and promising drug developments
About the company
ImmuPharma PLC is a specialty biopharmaceutical company that discovers and develops peptide-based therapeutics.
The company's portfolio includes novel peptide therapeutics for autoimmune diseases and anti-infectives.
ImmuPharma's lead program, Lupuzor™, is a first-in-class autophagy immunomodulator for the treatment of lupus and preclinical analysis suggests therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action.
How it is doing
ImmuPharma PLC (AIM:IMM) is set to participate in the BIO-Europe Spring gathering, which it describes as the "premier partnering event, designed to provide biotechnology companies".
Tim McCarthy, CEO, and Dr. Tim Franklin, COO, will represent the company at the gathering, which takes place in Barcelona from March 18-20.
"Following on from our recent announcements, including moving our lead asset P140 for SLE (Lupuzor) forward, with our appointed CRO, Simbec-Orion, in parallel with our CIDP program, we are delighted to have BIO-Europe as the next key platform in 2024 to present our unique portfolio to key industry and investment specialists," said McCarthy.
"Our focus will be to secure partnering opportunities across our programs including our P140 platform and our earlier stage but highly exciting anti-infective asset, BioAMB."
ImmuPharma PLC (AIM:IMM)'s shares surged 35% on Wednesday, buoyed by promising updates on financial and operational fronts, including active discussions with potential commercial partners for its assets.
The company said it had funds enough to meet its immediate needs, while commercial deals for its drug candidates would also help.
ImmuPharma PLC (AIM:IMM) said it is in 'active discussions' with potential commercial partners as it updated on its financial and operational performance.
Investors were told that it has funds to meet its immediate requirements, while the revenues for licensing deals for the non-US rights to P140, its lead asset, its CIDP programme and anti-infective, BioAMB, will help meet its longer cash needs.
Insight: Moderna, Legend Biotech advanced to the major league from the minors. But...
We have seen a host of companies such as Moderna Inc and Legend Biotech Corp grow to join the major league of biotech companies. But how do you spot the rookie in the minors ready to make the step up and what are the red flags?
Investing in small-cap biotech stocks can be a high-reward yet risky endeavour. The industry is characterised by rapid innovation and scientific breakthroughs, but also by lengthy development processes, regulatory hurdles, and capital-intensive requirements.
What management says
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, dismissing rumours of needing a highly dilutive fundraising. He emphasized that ImmuPharma has sufficient funding for its needs, supported by a business model reliant on developing drugs to a stage attractive to larger pharmaceutical companies for further development and market introduction. This strategy, according to McCarthy, is expected to generate non-dilutive upfront payments and royalties from licensing agreements, particularly for their P140 platform focused on autoimmune diseases like lupus and CIDP (Chronic Idiopathic Demyelinating Polyneuropathy).
McCarthy detailed progress on the lupus program, including changes to their clinical study approach and discussions with the FDA, highlighting the uniqueness of their molecule's mechanism of action. This uniqueness, McCarthy pointed out, has garnered interest from big pharma, distinguishing their lupus treatment from others that failed due to efficacy or side effects issues. Moreover, he announced advancements in the CIDP program and the company's intention to achieve orphan drug designation for it, promising significant market potential despite its smaller patient population compared to lupus.