The dual listing on Euronext Growth Brussels aims to further increase the visibility of ImmuPharma's shares with European investors, the specialty biopharmaceutical group said in a brief statement.
READ: ImmuPharma says shares will be dual-listed on Euronext Growth Brussels with effect from 19 December
The move is also aligned with the group's investment thesis for ImmuPharma and specifically Lupuzor being repositioned, following the firm's recent deal with US Avion Pharmaceuticals, which is funding an international Phase III trial for ImmuPharma's lead programme, Lupuzor.
"ImmuPharma looks forward to providing further progress updates on the Phase III program with Avion, as well as entering into additional partnerships outside of the US," the company said.
ImmuPharma noted that the new listing does not affect its trading on London's AIM, nor is there any intention from the firm to raise additional funds from either AIM or Euronext.