ImmuPharma PLC (LON:IMM) said it is focused on the “optimum route forward” for the business that includes the phase III development of its key asset, Lupuzor, but will also focus on up and coming candidates in the portfolio.
Its nucant and peptide programmes appear to have the potential to open three therapeutic areas: cancer, metabolism and anti-infectives.
ImmuPharma also told investors it was looking at potential other auto-immune disease uses for Lupuzor distinct from the treatment of lupus.
At the same time, it is exploring potential Lupuzor commercial agreements outside the US, where it has a deal with Avion Pharmaceuticals, which includes carrying out a new 'optimised' international phase III trial, funded up to US$25m. In addition, the UK company will receive ‘milestones’ of as much a US$70m and tiered double-digit royalties.
“The board has been focused on delivering a business strategy, which provides the optimum route forward for ImmuPharma and its shareholders, based on its current assets, knowhow, collaborations and funding,” ImmuPharma chief executive Tim McCarthy said in a statement with the firm's 2019 full-year results.
“In the medium term, we remain focussed on achieving the full regulatory approval of Lupuzor in conjunction with our US partner, Avion, which we believe has the potential to be a ground breaking drug for lupus patients with blockbuster potential in commercial terms.
“Both companies are focused on expediting Lupuzor into a new optimised international Phase III study,” he added.
The company exited 2019 with cash of £1.4mln. The loss for the period was £6.1mln.