21 October 2011 -- ImmuPharma plc (LSE:IMM) (“Immupharma” or the “Company” or the “Group”), the
specialist discovery and development pharmaceutical company is pleased to announce that
following discussions with Cephalon Inc (Cephalon), its licensee for Lupuzor™, it has
regained rights to Lupuzor™, due to the acquisition of Cephalon by Teva Pharmaceutical
Industries Ltd (Teva).
ImmuPharma entered into an option agreement 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 study in
early 2009, Cephalon exercised its option by paying a further $30m for an exclusive
worldwide license. This was part of an agreement worth $500m in cash milestone payments
plus royalties on product sales. Upon completion of the license agreement, Cephalon
assumed all responsibilities and costs for the development and commercialisation of
In May 2011, Cephalon agreed to a takeover bid by Teva. The acquisition was finalized on
October 14, 2011. Given the fact that Teva has a competing drug candidate for Lupus
(laquinimod) and the existence of key provisions of the agreement between ImmuPharma and
Cephalon, Immupharma requested the return of the rights for Lupuzor™.
- ImmuPharma regains all rights to Lupuzor™.
- Cephalon and ImmuPharma will decide the future of the current clinical trials that
Cephalon initiated in Lupus patients in the US and Europe.
ImmuPharma expects to provide a detailed update of the development of Lupuzor™ in the
near future, following the receipt of the appropriate information from Cephalon.
Commenting on the deal and the prospects for Lupuzor™, ImmuPharma’s Chief executive,
Dimitri Dimitriou, said:
“We are delighted to have Lupuzor back. This paves the way for new options for the future of
the company. We appreciate the support of Cephalon in the development of Lupuzor during
For further information, please contact:
Dimitri Dimitriou, Chief Executive Officer
+44 20 7152 4080
Richard Warr, Chairman
Lisa Baderoon, Mark Court
+44 20 7466 5000
Panmure, Gordon & Co., NOMAD & Broker
+44 20 7459 3600
Espirito Santo Investment Bank, Joint Broker
+44 20 7456 9191