ImmuPharma PLC (LSE:IMM), the specialist drug discovery and development company, announced today that on 24 May 2016 it received notification by Alto Invest and its subsidiaries (“Alto”) confirming its holding in ImmuPharma of 4,870,367 million Ordinary Shares in the capital of the Company, representing 3.99% of the Company’s total voting rights, crossing above the 3% threshold.
Alto Invest is an independent asset management firm regulated by the French financial markets authority and is a specialised investor in European small and mid-cap companies.
Commenting, Tim McCarthy, Chairman of ImmuPharma, said: “Alto initially participated in ImmuPharma’s successful £8.4 million fundraising in February this year following detailed due-diligence of our Lupuzor™ Phase III pivotal trial. We are delighted that it has increased its holding and we can now disclose that Alto is a significant shareholder in ImmuPharma.”
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 is led by a commercially focused Board and management team with extensive experience.