ImmuPharma Plc (LON:IMM) Chairman Tim McCarthy talks with DirectorsTalk about the phase 3 trials of lupuzor being opened up to Mauritius. Tim explains why the site is being opened up, how this fits in with the timeline, the request by the Government and Lupus Alert to open up the trial and key milestones for the company going forward.
ImmuPharma Plc is a pharmaceutical development company listed since 2006 on AIM of the London Stock Exchange, focusing on developing novel medicines with high sales potential in specialist markets with serious unmet need. The company successfully completed a £8.4 million fund raise in March 2016, comprising a Placing and Subscription together with confirmation of EIS and VCT qualifying status. Monies raised will principally be used to complete the pivotal Phase III trial of Lupuzor™. Following the issue of the New Ordinary Shares ImmuPharma has 121,781,219 ordinary shares of 10 pence each (the “Ordinary Shares”) in issue.
There are an estimated five million people globally suffering from Lupus, with approximately 1.5 million patients in the US, Europe and Japan (Source: Lupus Foundation of America). Current ‘standard of care’ treatments, including steroids and immunosuppressants, can potentially have either serious side effects for patients or limited effectiveness, with over 60% of patients not adequately treated. GSK’s Benlysta is the first Lupus drug approved in over 50 years and paves the path to market for Lupuzor™. Based on conservative estimates, and taking into account that Benlysta is priced currently at approximately $35,000 per patient per year, Lupuzor™ would be entering a market with the potential for multi-billion dollar sales.