Immupharma PLC Holding(s) in Company (3035R)

TIDMIMM

RNS Number : 3035R

Immupharma PLC

07 March 2016

 
                   RNS : FOR IMMEDIATE RELEASE                             7 MARCH 2016 
 

ImmuPharma PLC

TR1 NOTIFICATION OF MAJOR INTEREST BY LANSTEAD

ImmuPharma PLC (LSE:IMM), ("ImmuPharma" or the "Company"), the specialist drug discovery and development company, confirms that it has received a TR-1 by Lanstead Capital LP ("Lanstead") confirming its increased holding in ImmuPharma to 17,893,456 Ordinary Shares.

This follows on from the announcement on 1 March 2016 that ImmuPharma has received advance assurance from HM Revenue and Customs of EIS and VCT qualifying status and the issue and allotment of 2,856,539 new Ordinary Shares of 10 pence each. ImmuPharma now has a total of 121,781,219 Ordinary Shares of 10 pence each in issue which takes Lanstead's current position in the Company to 14.69%

Full disclosure of the TR1 is shown below:

1: NOTIFICATION OF MAJOR INTEREST IN SHARES

 
 
   1. Identity of the issuer or 
   the underlying issuer of existing                                                           Immupharma plc 
   shares to which voting rights 
   are attached: 
-------------------------------------------------------------  -------------------------------------------------- 
 2. Reason for the notification (please tick the appropriate 
  box or boxes): 
----------------------------------------------------------------------------------------------------------------- 
 
   An acquisition or disposal of voting rights                                                                 x 
----------------------------------------------------------------------------------------------------  ----------- 
 An acquisition or disposal of qualifying financial 
  instruments which may result in the acquisition 
  of shares already issued to which voting rights 
  are attached 
----------------------------------------------------------------------------------------------------  ----------- 
 
   An acquisition or disposal of instruments with 
   similar economic effect to qualifying financial 
   instruments 
----------------------------------------------------------------------------------------------------  ----------- 
 
   An event changing the breakdown of voting rights 
----------------------------------------------------------------------------------------------------  ----------- 
 
   Other (please specify): The placement by ImmuPharma                                                         x 
   PLC of 2,856,539 new ordinary shares 
----------------------------------------------------------------------------------------------------  ----------- 
 
 
   3. Full name of person(s) 
   subject to the notification                                 Lanstead Capital LP 
   obligation: 
----------------------------------------------  ----------------------------------------------------------------- 
 
   4. Full name of shareholder(s) 
   (if different from 3.): 
----------------------------------------------  ----------------------------------------------------------------- 
 5. Date of the transaction 
  and date on                                                  4 March 2016 
  which the threshold is crossed 
  or reached: 
----------------------------------------------  ----------------------------------------------------------------- 
 
   6. Date on which issuer notified:                           4 March 2016 
----------------------------------------------  ----------------------------------------------------------------- 
 
   7. Threshold(s) that is/are 
   crossed or reached:                                         15% 
----------------------------------------------  ----------------------------------------------------------------- 
 8. Notified details: 
----------------------------------------------------------------------------------------------------------------- 
 
   A: Voting rights attached to shares 
----------------------------------------------------------------------------------------------------------------- 
 Class/type        Situation previous            Resulting situation after the 
  of                to the triggering             triggering transaction 
  shares            transaction 
 
  if possible 
  using the 
  ISIN CODE 
----------------  ----------------------------  ----------------------------------------------------------------- 
                   Number         Number         Number         Number of voting            % of voting 
                    of             of Voting      of shares      rights                      rights 
                    Shares         Rights 
----------------  -------------  -------------  -------------  --------------------------  ---------------------- 
 
                                                   Direct         Direct         Indirect     Direct     Indirect 
----------------  -------------  -------------  -------------  -------------  -----------  ---------  ----------- 
 
   GB0033711010      17,872,341     17,872,341    17,893,456      17,893,456                  14.69% 
----------------  -------------  -------------  -------------  -------------  -----------  ---------  ----------- 
 
 
 
 
   B: Qualifying Financial Instruments 
------------------------------------------------------------------------------------ 
 
   Resulting situation after the triggering transaction 
------------------------------------------------------------------------------------ 
 Type of financial       Expiration   Exercise/     Number of voting     % of voting 
  instrument              date         Conversion    rights that          rights 
                                       Period        may be acquired 
                                                     if the instrument 
                                                     is exercised/ 
                                                     converted. 
----------------------  -----------  ------------  -------------------  ------------ 
 
                   N/A 
----------------------  -----------  ------------  -------------------  ------------ 
 
 
 
   C: Financial Instruments with similar economic effect 
   to Qualifying Financial Instruments 
------------------------------------------------------------------------------------------------------ 
 
   Resulting situation after the triggering transaction 
------------------------------------------------------------------------------------------------------ 
                                                   Exercise/ 
   Type of financial     Exercise     Expiration    Conversion     Number of voting      % of voting 
   instrument            price        date          period         rights                rights 
                                                                   instrument refers 
                                                                   to 
--------------------  -----------  -------------  ------------  --------------------  ---------------- 
                                                                                       Nominal   Delta 
--------------------  -----------  -------------  ------------  --------------------  --------  ------ 
               N/A 
--------------------  -----------  -------------  ------------  --------------------  --------  ------ 
 
 
 
   Total (A+B+C) 
------------------------------------------------------ 
 Number of voting rights   Percentage of voting rights 
------------------------  ---------------------------- 
 
   17,893,456                14.69% 
------------------------  ---------------------------- 
 
 
 9. Chain of controlled undertakings through which 
  the voting rights and/or the financial instruments 
  are effectively held, if applicable: 
---------------------------------------------------- 
 N/A 
---------------------------------------------------- 
 
 
 Proxy Voting: 
---------------------------------------- 
 
   10. Name of the proxy holder: 
-------------------------------------- 
 11. Number of voting rights proxy 
  holder will cease to hold: 
-------------------------------------- 
 
   12. Date on which proxy holder will 
   cease to hold voting rights: 
-------------------------------------- 
 
 
 
   13. Additional information: 
-------------------------------  ---------------------------------- 
 14. Contact name:                Lisa De Vargas, Lanstead Partners 
                                   Limited 
-------------------------------  ---------------------------------- 
 15. Contact telephone number:    [phone] 
-------------------------------  ---------------------------------- 
 

-Ends-

 
 For further information please 
  contact: 
                                               + 44 (0) 20 
   ImmuPharma plc (www.immupharma.org)           7152 4080 
   Tim McCarthy, Chairman 
   Lisa Baderoon, Head of Investor 
    Relations                                + 44 (0) 7721 
    Twitter: @immupharma                      413496 
 
    Panmure, Gordon & Co., NOMAD &            [phone] 
    Broker                                         2500 
   Fred Walsh, Duncan Monteith, Corporate 
    Finance 
    Charles Leigh-Pemberton, Corporate 
    Broking 
 

Notes to Editors

ImmuPharma PLC

ImmuPharma is a pharmaceutical development company listed since 2006 on AIM of the London Stock Exchange (LSE:IMM), focusing on developing novel medicines with high sales potential in specialist markets with serious unmet need. ImmuPharma is led by a commercially focused Board and management team with extensive experience.

ImmuPharma announced on 1 March 2016 the successful completion of a GBP8.4 million fund raise, comprising a Placing and Subscription together with confirmation of EIS and VCT qualifying status. Monies raised will principally be used to complete the pivotal Phase III trial of Lupuzor(TM). Following the issue of the New Ordinary Shares referred to above, ImmuPharma will have 121,781,219 ordinary shares of 10 pence each (the "Ordinary Shares") in issue.

Lupuzor(TM)

March 07, 2016 10:31 ET (15:31 GMT)

Lupuzor(TM) (also referred to as forigerimod, rigerimod, IPP-201101 or P140 is ImmuPharma's lead compound and a potential treatment for lupus (or Systemic Lupus Erythematosus), a chronic, potentially life-threatening auto-immune disease. Lupuzor(TM) has a novel mechanism of action aimed at modulating the body's immune system so that it does not attack healthy cells, and avoids causing adverse side effects. It has the potential to halt the progression of the disease in a substantial proportion of patients.

Lupuzor(TM) has been granted Fast Track status by the US FDA and approval to start Phase III under Special Protocol Assessment (SPA). This SPA was subsequently amended due to its strong safety and efficacy profile to allow for a reduced number of patients in the pivotal Phase III trial thereby reducing the projected cost and time of development considerably.

The pivotal Phase III clinical study is entitled "A 52-Week, Randomized, Double-Blind, Parallel-Group, Placebo-Controlled Study to Evaluate the Efficacy and Safety of a 200-mcg Dose of IPP-201101 Plus Standard of Care in Patients With Systemic Lupus Erythematosus". It is a pivotal study designed to demonstrate the safety and efficacy of IPP-201101 and as a last step prior to the filing of the drug for approval with the US Food & Drug Administration ("FDA") and the European Medicines Agency ("EMA"). For more information please visit: www.ClinicalTrials.gov/lupuzor

Commercial Opportunity

There are an estimated five million people globally suffering from Lupus, with approximately 1.5 million patients in the US, Europe and Japan (Source: Lupus Foundation of America). Current 'standard of care' treatments, including steroids and immunosuppressants, can potentially have either serious side effects for patients or limited effectiveness, with over 60% of patients not adequately treated. GSK's Benlysta is the first Lupus drug approved in over 50 years and paves the path to market for Lupuzor(TM). Based on conservative estimates, and taking into account that Benlysta is priced currently at approximately $35,000 per patient per year, Lupuzor(TM) would be entering a market with the potential for multi-billion dollar sales. For more information on Lupuzor(TM) please visit: www.lupuzor.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

HOLEDLFBQXFLBBD

(END) Dow Jones Newswires

March 07, 2016 10:31 ET (15:31 GMT)