Investment
>>> A copy of the Company's latest Annual Report (31 March 2011) is available for download here ...
FUNDING ROUND to finance Phase 2B trial of MIS416 in Secondary Progressive Multiple Sclerosis
Innate Immunotherapeutics will raise further funds in early 2012 to finance a multi-centre trial of MIS416 in patients with the Secondary Progressive form of Multiple Sclerosis. These funds will be raised by the issue of new ordinary shares to existing shareholders and new investors who meet the requirements of qualified and/or experienced investors in the U.S., Australia, or New Zealand. A brief investment summary is available and may downloaded here. NOTE: The information contained both here and in the investment summary DO NOT constitute an offering to the public.
The Company
Innate Immunotherapeutics is a 'Phase 2' biopharmaceutical company based in Auckland, New Zealand. With a share register comprising 1700 private investors, the Company qualifies as a public (but unlisted) company in NZ and is subject to the NZ Take Over Code. The Company is also an 'issuer and reporting entity' for the purposes of the Financial Reporting Act 1993 and as such it publishes audited financial statements prepared in accordance with the Act.Published statutory information about the Company can be viewed free of charge at the New Zealand Companies Office website by searching for the Company's incorporation number - 1039166.
History
The Company began operations in August 2000 as Virionyx Corporation Limited. At that time the Company acquired a patented platform technology for the treatment of diseases caused by pathogens, and engaged in the research and development of new drugs based on this technology.Initially the company directed its efforts and resources towards the clinical development of an anti-HIV passive immunotherapeutic drug referred to as PEHRG214. This programme involved Phase 1A & 1B safety trials at the Harvard Medical School (Boston) and Phase 2A safety and efficacy trials at five trial sites in the U.S. The PEHRG214 programme was suspended in late 2008 due to patient recruitment problems and related commercial factors and the programme was closed down altogether in early 2009.
In parallel with the PEHRG214 Phase 2A clinical trial, the Company began the preclinical evaluation of a second drug candidate, an immunomodulator referred to as MIS416. As a result of encouraging safety and efficacy results in a number of animal models, the Company commenced a clinical development programme of MIS416 in 2010, initially targeting progressive multiple sclerosis.
To reflect the repositioning of the company around the MIS416 immunomodulator platform, the companys name was changed on 1 April 2009 to Innate Therapeutics Limited and on 1 August 2011 to Innate Immunotherapeutics Limited.
The Company owns all patent and intellectual property rights to this technology.
Annual Report
Annual financial statements are prepared by the Company in accordance with New Zealand Generally Accepted Accounting Practice (NZ GAAP). They comply with New Zealand equivalents to International Financial Reporting Standards (NZ IFRS), and other applicable Financial Reporting Standards, as appropriate for profit-oriented entities. Compliance with NZ IFRS ensures that the financial statements also comply with International Financial Reporting Standards (IFRS).>>> A copy of the Company's latest Annual Report (31 March 2011) is available for download here ...
Transferring Existing Shares
A shareholder who has arranged the sale of all or part of their existing shares must complete a Share Transfer form and return this, together with the original share certificate(s), to Innate Immunotherapeutics Limited at P O Box 91-806, Victoria Street West, 1142, Auckland, New Zealand. The form must be completed fully, including the "Consideration Section" and signed by all parties if jointly owned. In the event that the original certificate(s) has been lost, please state this in writing and attach the statement to the completed and signed transfer. The company's Constitution requires the Board to approve the transfer(s) of any existing shares.To transfer redeemable preference shares, a shareholder must complete the RPS Transfer Form and return this, together with the original RPS certificate, to the company at the above address.