RCS - Immupharma PLC - Chairman’s Open Letter to Shareholders

ImmuPharmaAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260409:nRSI7102Za&default-theme=true

RNS Number : 7102Z  Immupharma PLC  09 April 2026

 

RNS REACH | 9 April 2026

 

 

ImmuPharma PLC

("ImmuPharma" or the "Company")

 

Chairman's Open Letter to Shareholders

 

ImmuPharma PLC (LSE:IMM), the specialist drug discovery and development
company, outlines below an open letter to shareholders from the Chairman, Tim
McCarthy. This follows on from this week's announcement, confirming that both
resolutions proposed at the General meeting held on Tuesday 7 April 2026, were
approved by Shareholders.

 

Dear Shareholders

 

I wanted to take this opportunity, on behalf of the ImmuPharma Board, to thank
you for your strong support at this week's General Meeting, where both
resolutions relating to the proposed Lanstead placing and WRAP retail offering
were approved. Resolution 1 received 91.46% support and Resolution 2 received
88.91%, reflecting clear shareholder endorsement of the Company's corporate
strategy, as outlined in our announcement of 17 March 2026,
(https://www.immupharma.co.uk/updates/ (https://www.immupharma.co.uk/updates/)
).

 

The approval of these resolutions enables us to complete the fundraising,
comprising a £6 million Lanstead subscription, alongside a £468k WRAP retail
component. This significantly strengthens our balance sheet and provides the
capital required to advance our key strategic priorities.

 

Our primary focus remains on securing a value-enhancing partnering agreement
for our lead auto-immune technology platform, P140, during 2026. Recent
progress continues to reinforce both the scientific rationale and commercial
positioning of this program, and the management team is actively engaged in
progressing discussions toward this objective.

 

The P140 update, issued on 27 March 2026, further strengthened the program's
foundations, highlighting the first Combined Search and Examination Report for
the UK patent application, supported by new study data. In addition, a
scientific manuscript is now in preparation for submission to a peer-reviewed
journal. Together, these developments enhance the credibility and long-term
commercial potential of P140.

 

Following the General Meeting, we are now investing in our second key asset,
Kapiglucagon, for type 1 diabetes. We have kickstarted an accelerated
development program with a clear two-year plan, which was outlined in the
recent Investor Meet Company presentation
(https://www.immupharma.co.uk/updates/interviews/
(https://www.immupharma.co.uk/updates/interviews/) ).The funding secured is
structured to support this program, and we expect to announce regular progress
updates over the next two years, as Kapiglucagon advances through its
development program and towards potential partnering opportunities.

 

The structure of the Lanstead subscription provides a mechanism through which
the Company may potentially benefit from future share price performance, with
the 8p Benchmark Price acting as the reference point for returns under the
Sharing Arrangement. The Board therefore believes that continued operational
progress and news flow relating to P140 and Kapiglucagon, have the potential
to support value creation over the period of the agreement.

 

Importantly, the successful fundraising extends the Company's cash runway to
at least H2 2028*. This strong financial leverage enhances our ability to
negotiate a P140 licensing agreement from a position of strength, while also
providing the flexibility to accelerate the Kapiglucagon program and
selectively invest in earlier-stage pipeline opportunities.

 

With the progress already underway, the Board believes 2026 will be a year of
delivery, momentum, and success for ImmuPharma and its shareholders.

 

We look forward to updating you further on our progress.

 

Yours sincerely,

Tim McCarthy

Chairman

 

 

For further information, please contact:

 

 ImmuPharma PLC (www.immupharma.co.uk)       +44 (0) 207 206 2650

 Tim McCarthy, Chief Executive Officer

 Lisa Baderoon, Head of Investor Relations    + 44 (0) 7721 413496

 SPARK Advisory Partners Limited (NOMAD)     +44 (0) 203 368 3550

 Neil Baldwin

 Stanford Capital Partners (Joint Broker)    44 (0) 20 3650 3650

 Patrick Claridge, Bob Pou

 Capital (Joint Broker)                      +44 (0) 1483 413500

 Nick Emerson

Terms used but not defined in this announcement have the same meaning as set
out in the Fundraising RNS of 17 March 2026.

 

For additional information about ImmuPharma please visit www.immupharma.co.uk
(http://www.immupharma.co.uk)

 

 ImmuPharma's LEI (Legal Entity Identifier) code: 213800VZKGHXC7VUS895

 

 

 

 

 

 

 

 

Notes:

 

* Based on the assumption that the total level of receipts under the 2026
Lanstead Agreement (which are variable and depend upon the level of the
Company's Measured Price versus the Benchmark Price each month) will be equal
to the Subscription of £6 million.

 

About Reach announcements

Reach is an investor communication service aimed at assisting listed and
unlisted (including AIM quoted) companies to distribute media only /
non-regulatory news releases such as marketing messages, corporate and product
information into the public domain. An RNS Regulatory announcement is required
to be notified under the AIM Rules for Companies.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAAKFBKOBKDPQK



            Copyright 2019 Regulatory News Service, all rights reserved