ImmuPharma PLC has released its interim results for the six months ended 30 June 2023. The company reported a loss for the period of £0.8 million, compared to a loss of £1.7 million for the same period in 2022. Research and development expenses were £0.8 million, down from £1.0 million in 2022, while administrative expenses were £0.4 million, down from £0.6 million. The company had a cash balance of £0.2 million as of 30 June 2023. ImmuPharma also announced successful fundraising and the strengthening of its board with two non-executive director appointments.
In terms of its portfolio, ImmuPharma highlighted several key developments. In February 2023, the company agreed to an adaptive Phase 2/3 study for its drug Lupuzor in systemic lupus erythematosus (SLE)/lupus patients with US partner Avion Pharmaceuticals. In March 2023, ImmuPharma announced a collaboration with Orano SA on its peptide technology. In May 2023, the company received positive guidance from the Food and Drug Administration (FDA) for a Phase 2/3 adaptive clinical study of its drug P140 in chronic idiopathic demyelinating polyneuropathy (CIDP). In June 2023, the company confirmed that a Phase 2/3 adaptive clinical trial of P140 in lupus patients will commence in the second half of 2023. ImmuPharma also established discussions with new potential corporate partners across its P140 platform and anti-infective programs.
In his statement, Tim McCarthy, CEO and Chairman of ImmuPharma, expressed optimism about the company's progress and future plans. He stated, "We continue to make positive progressive steps for ImmuPharma. As a Board, we remain focused on bringing our two key late-stage P140 clinical assets in Lupus and CIDP through their final clinical trials and to the market." McCarthy also mentioned the acceleration of commercial and partnering deals, which is supported by the recent board appointments. He thanked shareholders, staff, and partners for their support.
ImmuPharma's Lupuzor/P140 drug has the potential to be a novel specific drug therapy for the treatment of lupus. The company believes it can modulate the immune system and halt disease progression in most lupus patients. Lupuzor/P140 normalizes the over-activity of T-cells involved in the immune response leading to lupus disease. The company is actively in discussions with potential commercial partners for programs across its development portfolio.