ImmuPharma PLC’s (LON:IMM) portfolio firm, oncology specialist Incanthera has announced its intention to list on the NEX exchange in London before the end of February.
ImmuPharma, which owns a 14% stake in Incanthera, will see its stake lowered to 11.9% following admission when the company lists, which is expected around 28 February.
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"Incanthera's diverse oncology pipeline has blockbuster potential. We are confident of the medium to long term prospects of the business, but we are particularly excited at the potential near term commercialisation of the lead product Sol, for skin cancer and other topical indications”, said ImmuPharma chief executive Dimitri Dimitrou.
"As a major shareholder, with a tangible stake in the future success of Incanthera, we look forward to the creation of further value for our shareholders as Incanthera moves forward", he added.
ImmuPharma shares were 4.2% higher at 15.1p in early trading on Monday.