Business
Financial, Business and Portfolio Develop't Update
Financial, Business and Portfolio Develop't Update.
About this update from Immupharma Plc
[{"type":"text","content":"\n\n \nRNS 06 March 2024\n\n \nImmuPharma PLC\n(\"ImmuPharma\" or the \"Company\") \n \nFinancial, Business and Portfolio Development Update\n \nImmuPharma PLC (LSE AIM: IMM), the specialist drug discovery and development company, is pleased to announce a positive and comprehensive financial, business and portfolio development update.\n \nThis follows on from our announcement on 19 December 2023, where we provided a detailed update on our late stage P140 (Lupuzor™) program, in patients with systemic lupus erythematosus (\"SLE/Lupus\").\n \nFinancial Overview\nImmuPharma would firstly like to confirm that the financing position of the Company is sufficient for its immediate requirements and it has no current plans to raise equity through the capital markets.\nFuture cash requirements are fully expected to be met through non-dilutive income derived from the Company's portfolio of assets including, inter alia, new commercial deals on the development portfolio, including the non-US rights for P140 (SLE/Lupus); the worldwide rights for CIDP and for BioAMB. The Company is in active discussions with a broad range of potential commercial partners with the objective of completing deals across the portfolio in 2024.\nTo put this all into perspective, since the reorganisation of the Company, which was initiated in August 2021, the Board of Directors has greatly simplified the Group corporate structure; reduced staff levels; eliminated unnecessary and expensive overhead costs and most importantly, focused the development portfolio into two areas; Autoimmune and Anti-Infectives.\n \nImmuPharma now has two late-stage autoimmune development programs through its P140 platform, for both SLE and CIDP. Also in the portfolio are two earlier anti-infective programs, BioAMB and BioCin. Prior to 2021, the portfolio was primarily focused on only P140 for SLE (Lupus). It is from this enhanced and improved development portfolio that our shareholders will see the future value accretion.\n \nFrom an ongoing financial management perspective, we have seen a massive reduction of more than 75% in the annual overhead cost of the Company, compared to prior to the reorganisation. Hence, the cash needs of the Company are significantly less than historically and, as a consequence, much easier to forecast and manage.\n&nb...