NEW YORK, July 19, 2016 /PRNewswire/ -- Immune
Pharmaceuticals Inc. (NASDAQ: IMNP)("Immune"), a
biopharmaceutical company focused on the development of targeted
therapeutics for the treatment of inflammatory diseases and cancer,
announced today that it has entered into an amended agreement with
NPT, a syndicate of experienced healthcare investors, on
July 18, 2016. According to the
amended agreement Immune will form a pain-neurology subsidiary,
which will own AmiKet® intellectual property. NPT plans to make the
first tranche of its investment into the new subsidiary upon
closing based on the pre-agreed terms. The parties have agreed to a
target closing date of September 15,
2016.
Dr. Daniel Teper, CEO of Immune
commented: "This is an important step towards realizing the
significant value of AmiKet® for Immune's shareholders, and will
allow the company to focus on its core immunology and
immuno-oncology pipeline."
For full disclosure please refer to the Form 8-K filed on
July 19, 2016.
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 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 pipeline includes Ceplene®/IL-2 approved in Europe and Israel for maintenance remission in AML,
Azixa® and crolibulin, Phase II-ready vascular disrupting agents,
and novel technology platforms; bispecific antibodies and targeted
nanotherapeutics, NanomAbs. Immune's additional pipeline includes
AmiKet Nano™, a late clinical stage drug candidate for the
treatment of neuropathic pain. For more information, visit Immune's
website at www.immunepharmaceuticals.com, the content of which
is not a part of this press release.
Forward-Looking Statements
This news release and any oral statements made with respect to
the information contained in this news release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You are urged to consider
statements that include the words "may," "will," "would," "could,"
"should," "believes," "estimates," "projects," "potential,"
"expects," "plans," "anticipates," "intends," "continues,"
"forecast," "designed," "goal" or the negative of those words or
other comparable words to be uncertain and forward-looking. Such
forward-looking statements include statements that express plans,
anticipation, intent, contingency, goals, targets, future
development and are otherwise not statements of historical fact.
These statements are based on our current expectations and are
subject to risks and uncertainties that could cause actual results
or developments to be materially different from historical results
or from any future results expressed or implied by such
forward-looking statements. Factors that may cause actual results
or developments to differ materially include, but not limited to:
the risks associated with the adequacy of our existing cash
resources and our ability to continue as a going concern; the risks
associated with our ability to continue to meet our obligations
under our existing debt agreements; the risk that clinical trials
for bertilimumab or AmiKet® will not be successful; the risk that
bertilimumab, AmiKet® or compounds arising from our NanomAbs
program will not receive regulatory approval or achieve significant
commercial success; the risk that we will not be able to find a
partner to help conduct the Phase III trials for AmiKet® on
attractive terms, on a timely basis or at all; the risk that our
other product candidates that appeared promising in early research
and clinical trials do not demonstrate safety and/or efficacy in
larger-scale or later-stage clinical trials; the risk that we will
not obtain approval to market any of our product candidates; the
risks associated with dependence upon key personnel; the risks
associated with reliance on collaborative partners and others for
further clinical trials, development, manufacturing and
commercialization of our product candidates; the cost, delays and
uncertainties associated with our scientific research, product
development, clinical trials and regulatory approval process; our
history of operating losses since our inception; the highly
competitive nature of our business; risks associated with
litigation; and risks associated with our ability to protect our
intellectual property. These factors and other material risks are
more fully discussed in our periodic reports, including our reports
on Forms 8-K and 10-Q and our annual report on Form 10-K for the
year ended December 31, 2015 and
other filings with the U.S. Securities and Exchange Commission. You
are urged to carefully review and consider the disclosures found in
our filings, which are available at www.sec.gov or
at www.immunepharmaceuticals.com. You are cautioned not to
place undue reliance on any forward-looking statements, any of
which could turn out to be wrong due to inaccurate assumptions,
unknown risks or uncertainties or other risk factors. We expressly
disclaim any obligation to publicly update any forward looking
statements contained herein, whether as a result of new
information, future events or otherwise, except as required by
law.
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SOURCE Immune Pharmaceuticals Inc.