30th Sep 2014 09:27
LONDON (Alliance News) - ImmuPharma PLC Tuesday said its key compound, lupus treatment Lupuzor, will soon enter phase III trials as it posted an in-line pretax loss for the half year to end-June.
The company posted a pretax loss of GBP1.8 million, broadly flat on the previous year as it maintained its level of operating costs. The company is not yet revenue producing.
ImmuPharma said that it will soon begin phase III activities with its lead compound Lupuzor after it completed due diligence with a potential partner. It expects to secure a further agreement to develop the drug to fund the phase III trials.
Lupuzor has been granted a fast-track status by the US Food and Drug administration, and has been approved to start phase III trials. Immupharma has received GBP50 million in financing from Henderson Global subsidiary Darwin Strategic to assist in the funding of these trials.
Outside of Lupuzor, the company also continued development on its cancer treatment IPP-204106. It obtained the rights for this compound through its ongoing research collaboration with the Centre National de la Recherche Scientifique. Phase I/IIa trial data showed that the compound met its safety endpoints and a stabilisation of the disease in 21% of patients.
A further phase I/IIa clinical trial to assess the safety of increasing doses and identify an optimal dose has been completed.
ImmuPharma has begun developing a new peptide technology platform through its partnership with the Centre.
It has also been granted new patents surrounding an "optically pure" version of its nucant family, which broadens its usage for other indications.
ImmuPharma said that, with its strong cash position and controlled costs, it is focusing on confirming a solid partnership for Lupuzor and developing its other pipeline candidates.
Shares in ImmuPharma were trading up 5.5% at 48.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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