ImmuPharma plots reversal

Drug developer ImmuPharma, which is focusing its efforts on converting small peptides into clinically viable compounds, hopes to launch on AIM on Friday – after raising £2.2 million from investors with the aid of broker KBC Peel Hunt.

Led by chief executive Dimitri Dimitriou (who holds a masters degree in pathology and toxicology) and chief scientific officer Dr Robert Zimmer (formerly head of research at SkyePharma), ImmuPharma hopes its research will yield drugs addressing disorders such as lupus and MRSA. Other substances are being investigated to provide relief for cancer sufferers and those experiencing post-operative pain.

As peptides are naturally produced in the body, the company also believes the development risks associated with its compounds will be greatly reduced.

Arriving via the reverse takeover of existing AIM shell General Industries, the company is expected to valued at £28.8 million on arrival.

‘Over the last decade the big companies in the pharmaceutical industry have become increasingly interested in licensing novel blockbuster drugs from small research and development-based companies,’ says Dimitriou. ‘With ImmuPharma’s innovative portfolio of drug candidates in niche therapeutic areas, we are well placed to meet this need and attract major corporate deals.’

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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