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ImmuPharma PLC (AIM:IMM) chief executiveTim McCarthy provides an extensive update during an interview withProactive's Stephen Gunnion, focusing on the financial, business,and portfolio developments of the company.
McCarthy clarified that the company is ina strong financial position, dismissing rumours of needing a highlydilutive fundraising. He emphasized that ImmuPharma has sufficientfunding for its needs, supported by a business model reliant ondeveloping drugs to a stage attractive to larger pharmaceuticalcompanies for further development and market introduction. Thisstrategy, according to McCarthy, is expected to generate non-dilutiveupfront payments and royalties from licensing agreements, particularlyfor their P140 platform focused on autoimmune diseases like lupus andCIDP (Chronic Idiopathic Demyelinating Polyneuropathy).
McCarthy detailed progress on the lupusprogram, including changes to their clinical study approach anddiscussions with the FDA, highlighting the uniqueness of theirmolecule's mechanism of action. This uniqueness, McCarthy pointedout, has garnered interest from big pharma, distinguishing their lupustreatment from others that failed due to efficacy or side effectsissues. Moreover, he announced advancements in the CIDP program andthe company's intention to achieve orphan drug designation for it,promising significant market potential despite its smaller patientpopulation compared to lupus.
TheCEO also touched on an early-stage anti-infective program,underscoring the evolution of ImmuPharma's drug portfolio over thelast two and a half years under his leadership. This transformationinvolved corporate restructuring, significant cost reductions, andstrategic focus on developing a diversified drug portfolio.
McCarthy concluded by affirming the company's position assubstantially undervalued based on its developmental and financialassets, particularly highlighting a major interest in the oncologycompany Incanthera, which recently secured a substantial commercialdeal with AS Watson.
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