ImmuPharma share price: where now after US licensing deal sees stock soar?
Last week, ImmuPharma saw its share price treble in value after it secured a license and development agreement with US-based firm Avion Pharmaceuticals.
ImmuPharma saw its share price soar more than 300% last week, after it announced a major US licensing and development deal for Lupus drug, Lupuzor, which it struck with US-based Avion Pharmaceuticals.
The deal will see the pair fund a phase III international trial that will offer a path to commercialisation for the drug in the US market.
‘We are delighted to be entering into this partnership with Avion, a company which has a strong track record within late stage clinical development and commercialisation of products within the US, the largest market for lupus patients,’ ImmuPharma CEO Dimitri Dimitriou said.
‘We look forward to a long and successful relationship with the Avion team and look forward to sharing updates on progress with shareholders over the next period.’
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ImmuPharma deal could help stock climb even higher
ImmuPharma reported on a Phase III European trial back in May 2018 which showed that patients saw significantly reduced activity of the disease after using the drug.
The new international Phase III trial led by Avion, ImmuPharma and the US Food and Drug Administration (FDA) is scheduled to take place next year.
Avion will fund the trial up to $25 million, with ImmuPharma receiving milestone payments up to $70 million and tiered double-digit royalties of up to 17% based on pre-specified annual sales targets in the US.
If successful, the deal will help ImmuPharma’s share price continue to see significant gains in the coming years.
‘With approximately 1.5 million patients in the US suffering from lupus, there is a significant unmet need for a safe and effective drug for this debilitating disease that we believe Lupuzor can meet,’ Avion Pharmaceuticals CEO Art Deas said.
‘We look forward to forging a strong and successful relationship with ImmuPharma going forward.’
ImmuPharma is trading at 21p, up from 7p a share prior to its announcement.
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