London-listed ImmuPharmahas officially commenced trading on Euronext Growth Brussels.
This morning’s statement detailed that the group would begin trading at 09:00am GMT under the ticker ‘ALIMM’.
The new listing does not affect the trading of ImmuPharma's shares on AIM nor is there any intention from ImmuPharma to raise additional funds from either AIM or Euronext, they explained.
Commenting on this morning’s news, Chief Executive of ImmuPharma, Dimitri Dimitriou expressed his delight at the new listing: “Not only does it give us a foothold in continental trade but it grants ImmuPharma access to a strong community of investors positioned firmly within the life sciences area."
“Euronext Brussels is a leading life sciences stock exchange in Europe, only second to the US," he added.
Benoît van den Hove, Head of Listing at Euronext Brussels highlighted the franchise at 106 life science companies currently listed, representing a total market capitalisation of €28.5 billion from the end of October 2019.
The dual listing will aim to increase the visibility of ImmuPharma's shares specifically with European investors in line with the group’s thesis, the company explained.
This will also correspond to the group’s recent deal with US Avion Pharmaceuticals who are funding an international Phase III trial for ImmuPharma's lead programme, Lupuzor™
Earlier in November 2019, the company announced an exclusive deal to allow Avion to commercialise the for the auto-immune drug exclusively for the US.
Heading into the new year, ImmuPharma continues to progress its Phase III program with Avion as well as additional partnerships outside of the US.
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