ImmuPharma raises up to £7.5m to accelerate diabetes drug development

AIM-listed drug developer targets Type 1 diabetes treatment while pursuing licensing deal for its lead autoimmune programme ImmuPharma PLC (AIM:IMM, FRA:25I) has launched a fundraise of up to £7.5 million to accelerate development of a new treatment for Type 1 diabetes, while reaffirming its confidence in completing a licensing deal for its lead drug programme this year. The company is raising £6 million through a subscription with Lanstead Capital Investors, a long-standing shareholder, which the firm described as Lanstead's largest single investment in ImmuPharma over the past decade.