NetworkNewsBreaks – Immune Pharmaceuticals (IMNP): $11 Million in New Financing Supports Bertilimumab Clinical Development
Immune Pharmaceuticals (NASDAQ: IMNP) is trading higher on news that it has secured up to $11 million in new financing from an existing single family office investor. The company continues to accumulate patients in two phase 2 clinical trials for its lead candidate bertilimumab for moderate-to-severe ulcerative colitis as well as for bullous pemphigoid, an orphan autoimmune dermatological condition. The company reports that in both conditions, a significant number of patients have elevated levels of eotaxin-1, considered a biomarker of disease severity. Targeting patients with elevated eotaxin-1 offers the potential to select patients who may be more likely to respond…