ImmuPharma PLC (LON:IMM) announced that its shares will be dual-listed on Euronext Growth Brussels with effect from 19 December 2019, following approval by the European exchange, a move which will bring the company “additional visibility among European investors”.
The AIM-listed specialist drug discovery and development company said the new listing – under the ticker ALIMM - does not affect the trading of its shares on AIM in London, nor is there any intention for it to raise additional funds from either AIM or Euronext.
In a statement, the group said the dual listing on Euronext Growth Brussels “aims to further increase the visibility of ImmuPharma's shares in continental Europe where the Company is conducting its R&D activities in France and Switzerland.
“In addition to AIM, this dual listing on Euronext allows ImmuPharma to join the number one European stock exchange for Life Sciences and the world's second-biggest for biotech companies after the United States.
Commenting on the move, Dimitri Dimitriou, ImmuPharma's chief executive officer, said: “Having our shares listed on Europe's largest financial market for biotech companies is in line with the new page in ImmuPharma's future following our recent deal with Avion Pharmaceuticals, who are now funding an international Phase III trial for our lead programme, Lupuzor.
“The investment thesis for ImmuPharma and specifically Lupuzor has been repositioned and we look forward to providing further progress updates on the Phase III program with Avion, as well as entering into additional partnerships outside of the US. We are confident that our listing on Euronext Brussels will allow us to meet and develop relations with a community of new investors in continental Europe".