ImmuPharma shares fall as P140 deal time-frame extended to 2026
ImmuPharma PLC on Monday said it is has extended the time-frame for completing a partnership deal for its lead asset P140 to 2026, from the end of 2025.
Shares plummeted 19% to 7.88 pence on Monday afternoon in London.
The London-based specialist drug discovery and development company said it has been engaging in discussions with potential partners since October. These range in size and scope, including a number of top ten global pharmaceutical companies, ImmuPharma said.
The company expects completion of a P140 deal ‘as soon as practicable’ in 2026, having previously said its objective was to complete a deal by the end of 2025.
‘As would be expected, discussions cover a broad spectrum of subjects including scientific, technical and commercial aspects of P140 and by their nature these are, and continue to be, detailed and time consuming,’ ImmuPharma said.
The company added that a number of parties have signed confidential disclosure agreements.
In September, ImmuPharma filed the patent application for its lead asset P140, a novel diagnostic test and precision treatment approach.
Chief Executive Tim McCarthy said: ‘We are very encouraged by the positive response we have received in our partnering discussions. As a reminder, the advances within our P140 autoimmune platform represent a paradigm shift in how autoimmune therapies will be diagnosed and treated and underline the strong scientific foundation and commercial potential of our technology.
‘The whole team is dedicated to securing a partnership deal that does justice to the innovation and clinical potential of P140, valuing a more methodical approach over speed, so the best outcome for shareholders can be achieved. We are seeking a partner whose culture and aspirations match those of the board, prioritising long-term synergy.’
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