Lanstead United Kingdom Announcement

Lanstead provides £5m to AIM Quoted ImmuPharma to support the pivotal Phase III clinical trial of Lupuzor™

October 4, 2017 / POSTED BY / CATEGORY: Announcements

Global investment firm Lanstead is pleased to announce that its Sharing Agreement with AIM quoted, specialist drug discovery and development company, ImmuPharma plc (AIM: IMM) (“ImmuPharma” or the “Company”) has been successfully completed, with ImmuPharma having received over £5 million from Lanstead, £600,000 more than was originally subscribed, through the benefit of the Lanstead Sharing Agreement.

ImmuPharma is a pharmaceutical development company focusing on developing novel medicines with high sales potential in specialist markets with serious unmet need. Lupuzor™ is ImmuPharma’s lead compound and a potential treatment for lupus, a chronic, potentially life-threatening auto-immune disease. Lupuzor™ has a novel mechanism of action aimed at modulating the body’s immune system so that it does not attack healthy cells, and avoids causing adverse side effects.  It has the potential to halt the progression of the disease in a substantial proportion of patients.  Lupuzor™ has been granted Fast Track status by the US FDA and is undergoing Phase III trials.

Lanstead subscribed for £4.4 million of new ImmuPharma shares in February 2016, cornerstoning a £8.3 million institutional fundraising by the Company. Immupharma deployed £660,000 of the Lanstead funds immediately, with the remaining £3.74 million being invested in a Sharing Agreement with Lanstead.  Since entering into the Sharing Agreement with Lanstead, ImmuPharma has enjoyed a strong share price performance and seen additional institutional investors join its shareholder register.  The Sharing Agreement over 18 months enabled ImmuPharma to benefit from its positive share price performance, receiving £600,000 in additional proceeds, without having to issue any more shares, and in total over £5 million from Lanstead.

Commenting, Chairman of Immupharma, Tim McCarthy, said: “Lanstead has been an important supporter of ImmuPharma and we are delighted how effectively the Sharing Agreement has worked for both parties. We look forward to a continued supportive relationship with Lanstead as ImmuPharma seeks to create long term shareholder value within its asset portfolio and specifically our focus on hitting key milestones within our lead programme Lupuzor™, as we get nearer to reporting top-line Phase III results in Q1 2018.”

Commenting, Lanstead Director Nicholas Mallins-Smith, said: “We are delighted to have been able to be supportive in the progression of ImmuPharma’s pivotal Phase III clinical trial of Lupuzor™ Through the Sharing Agreement with Lanstead, ImmuPharma has been able to benefit, through the increase in its share price, by securing additional funds over and above the original subscription amount.”

“Lanstead is pleased to remain a supportive shareholder of ImmuPharma and looks forward to the Company’s further progress.”

 

About Lanstead

Lanstead is a global investment firm that provides funding for ongoing business objectives to listed small and mid-cap growth companies.  Lanstead focuses on equity investments in companies already listed on the LSE/AIM, ASX or European exchanges and on management teams with a clear growth strategy.

Since 2007, Lanstead has completed over 40 equity placings with our accompanying sharing agreement to reward growth.

Many of the companies with Lanstead on the shareholder register have benefited substantially from the accompanying sharing agreement, receiving more cash than the original placement proceeds without having to issue any additional shares.

Kyle Henrie

Kyle Henrie

Head of Marketing & Communications at Lanstead. For more information about this article or Lanstead please email pr@lanstead.com.