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ImmuPharma plc (IMM.L) - Preliminary Results for the Year Ended 31 December 2010



4/5/2011 8:47:34 AM

April 05, 2011 -- ImmuPharma PLC (LSE:IMM), ("ImmuPharma" or the "Company"), the specialist drug discovery and development company, is pleased to announce its preliminary audited results for the year ended 31 December 2010.

Key Highlights:

- Lead candidate for the treatment of Lupus “LupuzorTM”: with license partner, Cephalon, Inc. progressing with further Phase IIb trials in US and Europe with interim analysis expected in 3Q 2011. This trial complements the successful phase IIb study by ImmuPharma in 2009

- ImmuPharma’s anti-cancer compound with a novel and promising mechanism of action announced early encouraging results from its Phase I/IIa trial. Final results to be announced around the end of 1H 2011. Phase IIb trials to start later in 2H 2011 in patients with glioblastoma (brain tumour), hormone-resistant prostate cancer and pancreatic cancer

- Strong cash position of £15.6 million (as at 31 December 2010)

- Loss for the year of £1.98 million (2009: profit of £8.1m principally due to receipt of a licensing payment from Cephalon, Inc.)

- Basic and diluted loss per share were both 2.44p (31 December 2009: basic and diluted earnings per share10.46p and 9.99p respectively)

- Blue-chip investor base including M&G Investments, ING, Pictet and Aviva

- Continued successful relationships with the CNRS, Centre Nationale Recherche Scientifique

- Strong pre-clinical pipeline which includes three novel drug candidates in inflammation, pain and MRSA

- Received Best Drug Development Company in Europe award at The New Economy Pharmaceutical and Healthcare Awards 2010

Richard Warr, Chairman, said: “We are pleased to report our results for 2010, a year of steady, positive progress for ImmuPharma. Following our successful licensing of LupuzorTM to Cephalon our focus has been on our promising cancer programme. Early results of our cancer programme are encouraging, and we look forward to reporting on further developments during 2011. We also look forward to interim results of Cephalon’s Phase IIb trial in LupuzorTM expected in 3Q 2011. With the full support of the CNRS we are confident in the potential of LupuzorTM irrespective of recent developments surrounding our licensing partner. We are in a strong financial position and remain confident in our pipeline and plans for the future.”

For further information please contact:

ImmuPharma PLC

Dr Robert Zimmer, President +33 389 66 13 20

Richard Warr, Chairman +44 20 7152 4080

Dimitri Dimitriou, Chief Executive Officer +44 20 7152 4080

Tracy Weimar, Vice President, Operations +44 20 7152 4080

Buchanan Communications + 44 20 7466 5000

Lisa Baderoon, Mark Court

Panmure Gordon & Co +44 151 243 0963

Andrew Burnett, Rakesh Sharma

Espirito Santo Investment Bank +44 20 7456 9191

James Bromhead, Richard Crawley


Read at BioSpace.com


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