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Article: Has ImmuPharma a second drug winner?
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- September 30, 2009
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Byline: Nigel Bolitho
Tip update: ImmuPharma has licensed out the rights to its drug Lupuzor and now has enough cash to develop a potentially remarkable cancer treatment
In November last year, leading US biotech company Cephalon paid ImmuPharma $15m (GBP9.32m) option money to view Phase IIb trials of Lupuzor. This drug treats lupus - an autoimmune disease where 90 per of sufferers are female and where the body's immune system attacks that person's body tissue. On viewing the results Cephalon handed over another $30m this February to obtain exclusive worldwide licensing rights.
Cephalon is now responsible for all future development costs ...