ImmuPharma PLC (LON:IMM) has hailed the “positive and proactive” progress made by it and partner Avion Pharmaceuticals that will see a second phase III trial of the latter’s drug for lupus get underway “as soon as possible” this year.
The pair will meet America’s Food & Drug Administration sometime this quarter to seek guidance for an optimised study of Lupuzor.
In the update, ImmuPharma said there had been a number of discussions with a number of potential commercial partners outside the US – hinting at further commercial upside for the drug.
The Avion deal, announced in November, will see ImmuPharma receive up to US$70mln of milestone payments, with US$5mln due on regulatory approval of the product and a further US$65mln dependent on sales targets.
The UK group will also get royalties of up to 17% on sales, while there are financial incentives to expand Lupuzor’s use into other autoimmune diseases.
“We are in a new chapter within ImmuPharma's history, with the investment thesis for the company and specifically Lupuzor being repositioned and we look forward to providing further updates on progress with shareholders over the next period," said chief executive Dimitri Dimitriou.