ImmuPharma PLC (LON: IMM), a specialist drug discovery and development company has announced that its shares will be admitted to trading on Euronext Growth Brussels under ticker ‘ALIMM’ following the approval by Euronext of its request for listing. Admission is expected to take effect from the 19th December 2019. This new listing does not affect the trading of ImmuPharma’s shares on AIM, nor is there any intention from the Company to raise additional funds from either AIM or Euronext.
The dual listing on Euronext Growth Brussels aims to further increase the visibility of ImmuPharma’s shares in continental Europe where the Company is conducting its R&D activities in France and Switzerland. In addition to AIM, this dual listing on Euronext allows ImmuPharma to join the number one European stock exchange for Life Sciences and the world’s second biggest for biotech companies after the United States.
Commenting on the dual listing on Euronext Growth, Dimitri Dimitriou, ImmuPharma’s Chief Executive Officer, said:
“This dual listing on Euronext Growth Brussels gives ImmuPharma additional visibility among European investors. Having our shares listed on Europe’s largest financial market for biotech companies is in line with the new page in ImmuPharma’s future following our recent deal with Avion Pharmaceuticals, who are now funding an international Phase III trial for our lead programme, Lupuzor™. The investment thesis for ImmuPharma and specifically Lupuzor™ has been repositioned and we look forward to providing further progress updates on the Phase III program with Avion, as well as entering into additional partnerships outside of the US. We are confident that our listing on Euronext Brussels will allow us to meet and develop relations with a community of new investors in continental Europe”.
Benoît van den Hove, Head of Listing at Euronext Brussels said:
“We are delighted to welcome ImmuPharma on Euronext Growth, and look forward to welcome the Company’s management team in Brussels. This secondary listing in Brussels demonstrates the attractiveness of Euronext as a leading venue for biotech and life sciences companies in Europe, even outside our domestic markets. With this operation, ImmuPharma joins the large franchise of 106 Life Science companies (61 Biotech and 45 Medtech companies) currently listed on Euronext’s markets, representing a total market capitalisation of €28.5 billion (end of October 2019)”.
As required by the Euronext Growth Market Rules Book and Belgian financial regulations, an Information Note will be published ahead of listing. Publication is expected to be made on Tuesday 17 December 2019, at which point it will be available on our website www.immupharma.co.uk.