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ImmuPharma PLC, (LSE AIM: IMM – Euronext Growth: ALIMM) a specialist drug discovery and development company, today began trading on Euronext Growth Brussels. On the day of listing in Brussels, ImmuPharma’s market capitalisation stood at approx. €33.37 million. The Company did not issue any new shares.
ImmuPharma is headquartered in London and has its research operations in France and Switzerland. The Company is dedicated to the development of innovative drugs to treat serious medical conditions, characterised by high unmet medical need, low marketing costs and relatively low development costs.
The dual listing on Euronext aims to further increase the visibility of ImmuPharma’s shares in Continental Europe and with European investors. This follows the Company’s recent deal with US Avion Pharmaceuticals, who are now funding an international Phase III trial for its lead programme, Lupuzor™.
Euronext Growth, Euronext’s pan-European MTF dedicated to small & mid-caps, recently obtained the EU SME Growth Market status, which facilitates access to capital markets for European SMEs. The companies listed on Euronext Growth now benefit from simplified market processes in two key legislations: the Prospectus Regulation and the Market Abuse Regulation (MAR). Those evolutions are first steps to additional alleviations and benefits expected to be implemented in the years to come for SME Growth Markets.
Dimitri Dimitriou, ImmuPharma’s CEO, commented: “We are delighted to today’s commencement of ImmuPharma’s shares being traded on Euronext Growth Brussels. We have been planning this dual listing for a while. With us recently successfully completing a significant corporate deal on our most advanced drug in development, Lupuzor™, with our US partner, Avion Pharmaceuticals, the timing is appropriate. Euronext is positioned as the number 1 European Stock Exchange for Life Sciences and Brussels is the hub of an ecosystem in the Life Science sector which is knowledgeable, supportive and attractive to a company like ImmuPharma. We would like to specifically thank the Euronext team and our advisors for their invaluable support through this process.”
To celebrate ImmuPharma’s first trading day on Euronext, Dimitri Dimitriou, ImmuPharma’s Chief Executive Officer, rang the opening bell in Brussels.
