Business
?50M Financing Facility - Darwin Strategic
?50M Financing Facility - Darwin Strategic.
About this update from Immupharma Plc
[{"type":"text","content":"\n \nRNS Number : 1644F Immupharma PLC 21 May 2013 \n\n \n \n\n \nFOR IMMEIDATE RELEASE 21 May 2013\n \nImmuPharma PLC\n \nIMMUPHARMA SECURES £50M FINANCING FACILITY FOR LUPUZOR PHASE III\n \nFacility Underwritten by Henderson Global's Subsidary Darwin Strategic\n \nImmuPharma plc (LSE:IMM) (\"ImmuPharma\" or the \"Company\" or the \"Group\"), the specialist drug discovery and development company, is pleased to announce that it has secured a £50 million, five year Equity Financing Facility (\"EFF\") with Darwin Strategic Limited (\"Darwin\"), a majority owned subsidiary of Henderson Global Investors' Volantis Capital (\"Henderson Volantis\") to fund ImmuPharma's late stage Lupuzor compound.\n \nKey Highlights:\n- £50M facility allows ImmuPharma to complete the last development stage, Phase III - of its blockbuster Lupuzor compound while continuing discussions with major pharmaceutical companies for a potential corporate deal\n- Lupuzor has a unique mechanism that modulates the immune system to correct abnormalities in Lupus\n- Key third party prestigious endorsements have recently confirmed Lupuzor's superiority/mode of action (MOA) over conventional and recently approved drugs\no The Centre National de la Recherche Scientfique (CNRS)\no Amercian College of Rheumatology Annual Conference (ACR)\no Decision Resources Report\n \nFor reference, ImmuPharma entered into a corporate licensing deal with Cephalon in 2008 while in the middle of a Phase IIb study, which ImmuPharma designed, managed and funded. Cephalon paid ImmuPharma $15m before the results of the phase IIb study for the exclusive option to enter into the worldwide license. Following positive results of the ImmuPharma phase IIb s...