Development grant
ImmuPharma plc, a drug discovery and development company based in London, has been awarded a €900,000 grant by the French government for the development of its cancer drug IPP-204106. The money will enable the company to take the compound to the end of Phase I trials.
The company has a license agreement and a research collaboration with France’s national research body CNRS, and was previously awarded a €1 million grant from Anvar, the French Innovation Agency.
ImmuPharma was formed around a French company, Bio Delivery Systems SA, and a Swiss biotech, Zimmer and Associates AG. It joined the Alternative Investment Market in London in February 2006, through the reverse takeover of a shell company, General Industries plc. IPP-204106, has a dual mechanism of action, blocking angiogenesis as well as preventing proliferation of cancer cells.
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