7th May 2019 11:06
LONDON (Alliance News) - ImmuPharma PLC is exploring the merger and possible separate listing of two French subsidiaries, it said Tuesday.
Elro Pharma Sarl and Ureka Sarl are currently working on the Nucant cancer programme and a peptide platform respectively.
ImmuPharma previously said it was looking at options including licensing, divesting, or spinning-off these technologies.
The company now plans to merge the two to create "a stronger combined company", and then seek external investment either via private equity or a public listing in Europe.
This would allow ImmuPharma to focus on its Lupozor programme, a potential treatment for auto-immune disease Lupus.
Regarding Lupuzor, ImmuPharma said it continues to speak with potential partners over bringing the drug to market.
Shares were 7.1% higher on Tuesday at a price of 10.50 pence each.
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