Publication of Information Note (Euronext Growth)

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™. The investment thesis for ImmuPharma and specifically Lupuzor™ 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 Vassil Kirtchev Stanford Capital Partners (Joint Broker) Patrick Claridge, John Howes SI Capital (Joint Broker) Nick Emerson [phone] [phone] [phone] 4Reliance (Euronext Growth Listing Sponsor) Jean-Charles Snoy Degroof Petercam (Liquidity Provider) Erik De Clippel Backstage Communication Olivier Duquaine Jean-Louis Dubrule   [phone] [phone] [phone] [phone]

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™, 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™ to fund a new international Phase III trial for Lupuzor™ 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™ and Lupus

Lupuzor™ 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 PERIOD ENDED 30 SEPTEMBER 2019
		Unaudited		Audited
		9 months ended 30 September 2019		Year  ended 31 December 2018
		£		£
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	£             51,949
	Trade and other payables	£           277,262
	Total current liabilities	£           329,211
	Non current liabilities	£                     -
	Equity
	Ordinary shares	£     13,946,744
	Share premium	£     27,320,145
	Merger reserve	£           106,148
	Other reserves	£       3,157, 963
	Retained earnings	-£     38,040,631
	Total equity	£       6,490,369

The Company liabilities are all unsecured and not guaranteed by collateral. 

 

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