Share placement
ImmuPharma plc of London has raised £1.6 million from institutional investors through a placing of 2,697,034 shares. At the same time the company, which is quoted on the Alternative Investment Market in London, said that Lupuzor, its treatment for the chronic, life-threatening autoimmune disease Lupus, completed the first leg of two mandatory long-term toxicology studies.
International regulations require two long-term toxicology studies of 6 and 9 months for drug products intended for chronic use. ImmuPharma said there were no clinical or laboratory findings from the first study suggesting any safety issues.
An interim analysis of the second study supported this. These studies pave the way for a US Phase III study of Lupuzor.
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