Immune Pharmaceuticals, Inc. Reports Fourth Quarter And Full Year 2014 Financial Results
NEW YORK, April 15, 2015 /PRNewswire/ -- Immune Pharmaceuticals Inc., (NASDAQ:IMNP) announced financial results for the fourth quarter and full year ended December 31, 2014. Immune filed its Annual Report on Form 10-K for fiscal year 2014 on Wednesday, April 15, 2015.
"Over the last year, Immune has up-listed to the NASDAQ Capital Market and improved its capital structure to allow for timely financing of its planned phase II clinical trials of bertilimumab, a first in class monoclonal antibody, for the treatment of Bullous Pemphigoid and Ulcerative Colitis," said Dr. Daniel Teper, Chief Executive Officer of Immune. "Upon securing a commercial partner for AmiKet, we are planning further expansion of the Bertilimumab phase II clinical program and of the early NanomAb, Antibody Nanoparticle Conjugate pipeline development."
Recent Business Highlights and Upcoming Milestones
Partnering of AmiKet may provide out-licensing revenues starting in 2015: Following a comprehensive review of clinical safety and efficacy of AmiKet in trials totaling 1,700 patients, meetings with regulatory agencies and a third party commercial assessment, Immune initiated a formal partnering process during the first quarter of 2015 with a potential target agreement with a commercial partner on out-licensing terms during the second quarter of 2015.
AmiKet addresses a potential market of over $3.5 billion according to Global Data.
Immune also licensed a topical nanoparticle formulation technology, which has the potential to enhance the performance of AmiKet, prolong patent exclusivity up to 2036, and support development in additional pain indications.
Patient enrollment in Bullous Pemphigoid and Ulcerative Colitis Phase II trials: Immune delayed the planned patient enrollment of patients in the fourth quarter of 2014 to address a quality control issue, which has now fully been resolved. As a result, patient enrollment is now scheduled to start in the second quarter of 2015. Initial clinical data form the Bullous Pemphigoid trial may be available by the end of 2015.
Initiation of Bertilimumab development in Liver diseases including NASH: Following a review of literature outlining the role of eotaxin-1 in liver diseases and scientific advice from Key Medical Opinion Leaders Immune is initiating a development program for Bertilimumab which will include pre-clinical studies and initiation of a pilot Phase II clinical trial expected before the end of 2015.
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