TIDMIMM
RNS Number : 0455X
Immupharma PLC
17 December 2019
RNS |17 December 2019
ImmuPharma PLC
("ImmuPharma" or the "Company")
Publication of Information Note
In advance to admission to trading on Euronext Growth
Brussels
ImmuPharma PLC (LSE:IMM), a specialist drug discovery and
development company, is pleased to announce that, further to the
announcement of 13 December 2019, that its shares will be admitted
to trading on Euronext Growth Brussels ("Euronext") under ticker
'ALIMM', it has today published the Information Note, as required
by the Euronext Growth Market Rules Book and Belgian financial
regulations.
The Information Note is available on ImmuPharma's website
www.immupharma.co.uk. Attention is drawn to certain financial
information on a period subsequent to that notified in our Interim
Results which is included in Parts II and IV of the Information
Note which is notifiable under AIM Rule 11. This information is set
out in the Appendix below.
Admission to Euronext is expected to take effect from 19
December 2019. This new listing does not affect the trading of
ImmuPharma's shares on AIM, nor is there any intention from the
Company to raise additional funds from either AIM or Euronext.
The dual listing on Euronext Growth Brussels aims to further
increase the visibility of ImmuPharma's shares in continental
Europe and with European investors, following the Company's recent
deal with Avion Pharmaceuticals, who are now funding an
international Phase III trial for the lead programme, Lupuzor(TM).
The investment thesis for ImmuPharma and specifically Lupuzor(TM)
has been repositioned and the Company 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.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014. ("MAR")
For further information please contact:
ImmuPharma PLC (www.immupharma.com)
Tim McCarthy, Chairman + 44 (0) 207 152 4080
Dimitri Dimitriou, Chief Executive Officer
Lisa Baderoon, Head of Investor Relations + 44 (0) 7721 413496
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin +44 (0) 203 368 8974
Vassil Kirtchev
Stanford Capital Partners (Joint Broker)
Patrick Claridge, John Howes +44 (0) 203 815 8880
SI Capital (Joint Broker)
Nick Emerson +44 (0) 1483 413500
4Reliance (Euronext Growth Listing Sponsor) +32 (0) 2 747 02 60
Jean-Charles Snoy
Degroof Petercam (Liquidity Provider) +32 (0) 2 287 95 34
Erik De Clippel
Backstage Communication
Olivier Duquaine +32 (0) 477 504 784
Jean-Louis Dubrule +32 (0) 497 50 84 03
Notes to Editors
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM - Euronext Growth: ALIMM) is a
specialty biopharmaceutical company that discovers and develops
peptide-based therapeutics. The Company's portfolio includes novel
peptide therapeutics for autoimmune diseases, metabolic diseases
and cancer. The lead program, Lupuzor(TM), is a first-in class
autophagy immunomodulator which is in Phase III for the treatment
of lupus and preclinical analysis suggest therapeutic activity for
many other autoimmune diseases that share the same autophagy
mechanism of action. ImmuPharma and Avion Pharmaceuticals signed on
29 November 2019, an exclusive licence and development agreement
and trademark agreement for Lupuzor(TM) to fund a new international
Phase III trial for Lupuzor(TM) and commercialise in the US. For
additional information about ImmuPharma please visit
www.immupharma.com.
About Avion Pharmaceuticals
Avion Pharmaceuticals, LLC is a US-based specialty
pharmaceutical company formed to develop, acquire and market a
portfolio of innovative pharmaceutical products in the Women's
Health and other therapeutic categories aligned with our mission to
improve the quality of patient lives. Avion Pharmaceuticals focuses
on identifying opportunities to develop, acquire and enhance the
market potential of innovative, commercially available therapeutics
and late-stage development drugs to fulfil unmet medical needs. For
additional information about Avion Pharmaceuticals, visit
www.avionrx.com.
About Lupuzor(TM) and Lupus
Lupuzor(TM) is ImmuPharma's lead compound, a peptide therapeutic
and a first-in class autophagy immunomodulator for systemic lupus
erythematosus (SLE or lupus) a potentially life-threatening
auto-immune disease. Lupus is a chronic inflammatory disease which
is thought to affect some 5 million individuals worldwide. The
current standard of care still consists of drugs which have many
side-effects and limited efficacy. Despite the need for an
effective treatment, only one new therapy, namely GlaxoSmithKline's
Benlysta, has been approved to treat the condition over the past 50
years. As such, there clearly exists an unmet medical need for a
drug that has a strong efficacy and safety profile.
Appendix
CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE PERIODED 30 SEPTEMBER
2019
Unaudited Audited
9 months Year
ended 30 ended 31
September December
2019 2018
GBP GBP
Cash flows from operating activities
Cash used in operations (2,549,281) (5,606,138)
Taxation (543,668) 889,787
Interest paid (3,208) (4,783)
Net cash used in operating
activities (3,096,157) (4,721,134)
------------------------- ----------------------------
Investing activities
Purchase of property plant
and equipment (6,003) (102,880)
Purchase of investments - (2,000,000)
Interest received 4,986 12,491
Net cash used in investing
activities (1,017) (2,090,389)
------------------------- ----------------------------
Financing activities
(Decrease)/increase in bank
overdraft (253) (72)
Loan repayments (68,861) (138,809)
Settlements from Sharing agreement 74,901 -
Gross proceeds from issue of
new share capital - 10,000,000
Share capital issue costs - (713,929)
Net cash generated from/ (used
in) financing activities 5,787 9,147,190
------------------------- ----------------------------
Net increase/(decrease) in
cash and cash equivalents (3,091,387) 2,335,667
Cash and cash equivalents at
beginning of year 4,911,448 2,729,468
Effects of exchange rates on
cash and cash equivalents 180,367 (153,687)
Cash and cash equivalents at
period end 2,000,428 4,911,448
========================= ============================
Capitalisation and Indebtedness Statement
The following is the consolidated unaudited statement
of Capitalisation and Indebtedness
as of 30 September 2019
Current liabilities
Financial borrowings GBP 51,949
Trade and other payables GBP 277,262
Total current liabilities GBP 329,211
----------------
Non current liabilities GBP -
Equity
Ordinary shares GBP 13,946,744
Share premium GBP 27,320,145
Merger reserve GBP 106,148
GBP 3,157,
Other reserves 963
Retained earnings -GBP 38,040,631
Total equity GBP 6,490,369
----------------
The Company liabilities are all unsecured and not guaranteed by
collateral.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFFUFMMFUSEFE
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December 17, 2019 02:00 ET (07:00 GMT)
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