ImmuPharma skyrockets on news of Lupuzor licensing deal
UK-based drug developer ImmuPharma (LSE: IMM) saw its shares stratospheric this morning, trebling after it revealed a licence and development agreement with Avion Pharmaceuticals, for the exclusive rights to Lupuzor (forigerimod) in North America. The stock was still up 252% at 24,80 pence by early afternoon.
Lupuzor is ImmuPharma’s lead compound, a peptide therapeutic and a first-in class autophagy immunomodulator for systemic lupus erythematosus (SLE or lupus) a potentially life-threatening auto-immune disease. In addition, Lupuzor has the potential for treating auto-immune diseases other than lupus. A trademark licence agreement also has been signed to allow Avion the use of various trademarks in connection with development, manufacture and commercialization of products under the licence and development agreement.
Deals valued at up to $70 million
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