The ImmuPharma PLC (LON: IMM) share price rallied 10.9% after revealing that it had signed a collaboration agreement with Orano SA, a leading international nuclear energy company, to develop an innovative radiotherapy drug candidate to treat cancer.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
The two firms agreed to work together with ImmuPharma providing its proprietary peptide technology to help develop a new way of delivering a potent radioactive isotope directly to the core of a cancer cell without significantly affecting the nearby cells.
Top Broker Recommendation
- eToro Top stock trading platform with 0% commission – Read our Review
- Tickmill Regulated by the FCA – Read our Review
- Admirals (Admiral Markets) More than 4500 stocks & ETFs available – Read our Review
- Spreadex Spreadex has been around for a long time – Read our Review
- IG Top-tier regulation – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
The ImmuPharma Biotech team based in Bordeaux will collaborate with the Orano team and the Cancer Research Centre of Lyon (CRCL) in France to identify the drug molecules that can carry the radioactive entity within the human body before delivering it to the cancer cells.
In addition, the two companies have agreed that any new cancer therapy discovered during the collaboration that uses ImmuPharma’s peptide technology will be subject to a complete licensing agreement between Orano SA and ImmuPharma as Orano prepares to develop the drug further.
The partnership’s ultimate goal is to use ImmuPharma's peptide technology to transport a radioactive bullet to the nucleus of cancer cells, killing the cell with the most negligible impact on surrounding tissue.
ImmuPharma was paid an undisclosed small token amount to kick off the collaboration agreement, which could yield significant revenues for the company if the two firms develop a drug molecule using ImmuPharma’s peptide technology.
Tim McCarthy, ImmuPharma’s CEO, said: “We are delighted to have signed this agreement with Orano. It is the ideal program for our peptide asset, given its ability to enter the nucleus of cancer cells. The combination of our peptide as a nuclear targeting vector, combined with the short-range destructive qualities of Orano's radioactive bullet, makes this a logical collaboration for both companies. Furthermore, we potentially create a new product life cycle for our peptide. We look forward to working with Orano and the Cancer Research Centre of Lyon over the next 12 months.”
Investors will follow the collaboration closely, given the significance of discovering a method to deliver a powerful radioactive element to cancer cells with minimal side effects.
*This is not investment advice.
The ImmuPharma (IMM) share price.
The ImmuPharma share price rallied 10.91% to trade at 2.54p, from Friday’s closing price of 2.29p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.