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LONDON - ImmuPharma PLC (LSE:IMM) has pushed back its timeline for securing a partnership deal for its P140 autoimmune platform, according to a corporate update issued Monday.
The specialty drug discovery and development company previously announced in October that it aimed to complete a partnership agreement by the end of 2025. However, the company now expects the process to extend into 2026.
ImmuPharma reported that it has engaged with several potential partners, including some top ten global pharmaceutical companies. Multiple parties have signed confidential disclosure agreements, and discussions are covering scientific, technical, and commercial aspects of the P140 platform.
"We are very encouraged by the positive response we have received in our partnering discussions," said Tim McCarthy, Chief Executive Officer of ImmuPharma, in the press release statement.
The company stated that its objective is to identify the most suitable partner for P140’s further development and commercialization, prioritizing long-term value over speed of deal completion.
On the financial front, ImmuPharma indicated that its cash position remains strong, with a runway now extending into the fourth quarter of 2026. This improved financial outlook stems from recent R&D tax credits, warrant exercises in September, and enhanced receipts under a completed Lanstead Capital sharing agreement, which yielded approximately £2 million.
The company reaffirmed it has no plans to raise additional funds and expects to strengthen its cash position through potential commercial partnerships.
ImmuPharma said it will provide further updates to the market as partnership discussions progress.
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