Immune Pharmaceuticals to Develop Novel Topical Nanoparticle Formulation of AmiKet

Mar 16, 2015, 16:15 ET from Immune Pharmaceuticals Inc.

NEW YORK, March 16, 2015 /PRNewswire/ -- Immune Pharmaceuticals Inc. ("Immune", the "Company") (NASDAQ: IMNP) announced today that it has entered into a binding memorandum of understanding with Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem, to license certain of Yissum's patents in order to facilitate the development of a topical nanoparticle formulation of Immune's neuropathic pain drug, AmiKet™.

The technology that Immune will be licensing was invented by Professor Simon Benita, from the Institute for Drug Research, the School of Pharmacy, and Faculty of Medicine at the Hebrew University, a renowned expert in development of drug delivery technology, and a primary inventor of NanomAbs, an antibody nanoparticle conjugate technology to deliver cancer drugs, already licensed by Immune from Yissum.

"Expanding our relationship with Yissum and leveraging Professor Benita's expertise in nanotechnology is an important strategic step for AmiKet," said Dr. Daniel Teper, CEO of Immune Pharmaceuticals.  "We expect that this new formulation will likely increase the patent exclusivity of AmiKet by more than 10 years, support development of additional pain indications and may even provide additional clinical benefits."

Immune Pharmaceuticals is currently conducting a search for an appropriate partner for the final development and commercialization of AmiKet, which is ready for Phase III clinical trial in post herpetic neuralgia and has been granted Orphan Drug Designation by the Food and Drug Administration. The Company expects to select a partner and secure a licensing agreement by the second quarter of 2015. The topical nanoparticle formulation of AmiKet will be developed collaboratively by Immune and Yissum upon the execution of a license agreement between the parties and will be part of the AmiKet commercialization agreement.

About Immune Pharmaceuticals Inc.

Immune Pharmaceuticals Inc. applies a personalized approach to treatment, developing novel, highly-targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. The Company's lead product candidate, bertilimumab, is in clinical development for moderate to severe ulcerative colitis and crohn's disease as well as bullous pemphigoid, an orphan auto-immune dermatological condition. Immune licensed worldwide rights for systemic indications of bertilimumab from iCo Therapeutics (TSX: ICO) (OTCQX: ICOTF) in June 2011, while iCo retained rights to all ophthalmic indications. iCo originally licensed the exclusive world-wide rights to bertilimumab in 2006 from MedImmune, the Global Research and Development Arm of AstraZeneca.  Immune's pipeline also includes NanomAbs, antibody nanoparticle conjugates, for the targeted delivery of chemotherapeutics, licensed from Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem and AmiKet™, a Phase III ready neuropathic pain drug candidate. AmiKet has received Orphan Drug Designation for post herpetic neuralgia.

For more information, visit Immune's website at www.immunepharmaceuticals.com, the content of which is not 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, 10-Q and 10-K 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.

SOURCE Immune Pharmaceuticals Inc.



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