ImmuPharma CEO Tim McCarthy discusses financial stability and promising drug developments
London, UK
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March 08, 2024 09:48 AM Eastern Standard Time
ImmuPharma PLC (AIM:IMM) chief executive Tim McCarthy provides an extensive update during an interview with Proactive's Stephen Gunnion, focusing on the financial, business, and portfolio developments of the company.
McCarthy clarified that the company is in a strong financial position, dismissing rumours of needing a highly dilutive fundraising. He emphasized that ImmuPharma has sufficient funding for its needs, supported by a business model reliant on developing drugs to a stage attractive to larger pharmaceutical companies for further development and market introduction. This strategy, according to McCarthy, is expected to generate non-dilutive upfront payments and royalties from licensing agreements, particularly for their P140 platform focused on autoimmune diseases like lupus and CIDP (Chronic Idiopathic Demyelinating Polyneuropathy).
McCarthy detailed progress on the lupus program, including changes to their clinical study approach and discussions with the FDA, highlighting the uniqueness of their molecule's mechanism of action. This uniqueness, McCarthy pointed out, has garnered interest from big pharma, distinguishing their lupus treatment from others that failed due to efficacy or side effects issues. Moreover, he announced advancements in the CIDP program and the company's intention to achieve orphan drug designation for it, promising significant market potential despite its smaller patient population compared to lupus.
The CEO also touched on an early-stage anti-infective program, underscoring the evolution of ImmuPharma's drug portfolio over the last two and a half years under his leadership. This transformation involved corporate restructuring, significant cost reductions, and strategic focus on developing a diversified drug portfolio.
McCarthy concluded by affirming the company's position as substantially undervalued based on its developmental and financial assets, particularly highlighting a major interest in the oncology company Incanthera, which recently secured a substantial commercial deal with AS Watson.
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