REG - Immupharma PLC - Publication of Information Note (Euronext Growth)

ImmuPharmaAnnouncement

17/12/2019 07:00

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
 


 
+44 (0) 203 368 8974
 
 
 
+44 (0) 203 815 8880
 
 
+44 (0) 1483 413500
 
 








4Reliance (Euronext Growth Listing Sponsor)
Jean-Charles Snoy
 
Degroof Petercam (Liquidity Provider)
Erik De Clippel
 
Backstage Communication
Olivier Duquaine
Jean-Louis Dubrule

 



 


+32 (0) 2 747 02 60
 
 
+32 (0) 2 287 95 34
 
 
 
+32 (0) 477 504 784
+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™, 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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