Biopharmaceutical company ImmuPharma PLC (LSE: IMM) (AIM: IMM) on Monday reported that dermatology and oncology specialist Incanthera plc (AQSE: INC) has announced a significant skincare deal with Marionnaud, initially spanning Europe with further expansions into Asia. ImmuPharma holds a 12.7% stake in Incanthera and anticipates this deal to yield substantial revenues and profitability starting in 2024.

In addition, Incanthera successfully concludes a GBP1,000,000 fundraise, oversubscribed and priced at GBP0.07 per share, reflecting an 11.1% premium to the mid-market price as of 15 December 2023.

ImmuPharma specialises in peptide-based therapeutics, with a portfolio encompassing novel treatments for autoimmune diseases and anti-infectives. Its lead program, P140 (Lupuzor), serves as a first-in-class autophagy immunomodulator for Lupus treatment, showing potential for various autoimmune diseases with similar autophagy mechanisms.

Incanthera focuses on innovative technologies to address current clinical needs. Originating from the Institute of Cancer Therapeutics at the University of Bradford, Incanthera's strategy involves developing portfolio candidates and securing valuable partnerships early in the development pathway.