Immune Pharmaceuticals (NASDAQ: IMNP) shares are up more than 48% in late morning trade following news the company has entered into a letter of intent with Pint Pharma GmnH regarding the pursuit of an exclusive license by Pint of the rights to commercialize Ceplene throughout Latin America. The companies anticipate the close of the final agreement will occur within 30 days. Per the final agreement, Pint will carry out the full commercialization of the licensed product in the territory, including Ceplene registration, pricing and reimbursement, and sales and marketing activities. At the time of the final agreement, Pint will also make an investment of $4 million into Immune Pharma’s oncology subsidiary, Cytovia, Inc. “We are excited about the possibility of partnering with Pint Pharma, a market leader in Latin America with strong commercialization capabilities in the field of oncology. Pint Pharma’s desire to bring Ceplene/IL-2 immunotherapy to patients in Latin America complements our strategy,” Immune Pharma CEO Dr. Daniel Teper stated in the news release.
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About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. (NASDAQ: IMNP) applies a personalized approach to treating and developing novel, highly targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. Immune’s lead product candidate, bertilimumab, is in phase II clinical development for moderate-to-severe ulcerative colitis as well as for bullous pemphigoid, an orphan autoimmune dermatological condition. Other indications being considered for development include atopic dermatitis, Crohn’s disease, severe asthma and Non-Alcoholic Steato-Hepatitis (NASH), an inflammatory liver disease. Immune recently expanded its portfolio in immuno-dermatology with topical nano-formulated cyclosporine-A for the treatment of psoriasis and atopic dermatitis. Immune’s oncology subsidiary, Cytovia, plans to develop Ceplene for maintenance remission in AML in combination with IL-2. Additional oncology pipeline products include Azixa® and crolibulin, phase II clinical stage vascular disrupting agents, and novel technology platforms; bispecific antibodies and NanomAbs™. Maxim Pharmaceuticals Inc., Immune’s pain and neurology subsidiary, houses AmiKet™ and AmiKet™ Nano™, pipeline products for the treatment of neuropathic pain. For more information, visit Immune’s website at www.immunepharma.com.
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