TARRYTOWN, N.Y. and HERZLIYA-PITUACH, Israel, Nov. 1, 2013 /PRNewswire/ -- Immune Pharmaceuticals Inc. (OTCQX and NASDAQ OMX Stockholm Exchange: IMNP) announced today that it has appointed Erik Penser Bankaktiebolag as a liquidity provider for the Company's common shares currently listed on NASDAQ OMX Stockholm Exchange under the trading symbol IMNP. The firm will continue to be the Company's liquidity provider after its planned transfer of its stock listing from NASDAQ OMX Stockholm Exchange to NASDAQ OMX First North Premier.
A liquidity provider facilitates the buying and selling of shares in order to narrow the difference between the bid and ask prices of a traded security. The liquidity provider's goal is to reduce market risk, enabling shareholders to more efficiently trade in the Company's common stock. The agreement between Erik Penser Bankaktiebolag and the Company is consistent with the terms established by NASDAQ OMX in Stockholm for liquidity providers pertaining to both the NASDAQ OMX Stockholm Exchange and NASDAQ OMX First North Premier. The agreement is effective as of November 1, 2013.
About Erik Penser Bankaktiebolag
Erik Penser Bankaktiebolag is a privately owned and independent bank that offers a broad range of financial services to private and institutional investors and focuses on creating value for its clients. Erik Penser Bankaktiebolag has approximately 90 employees and has its office at Biblioteksgatan 9 in Stockholm, Sweden. Erik Penser Bankaktiebolag operates under the supervision of the Swedish Financial Supervisory Authority and is a member of the leading Nordic exchanges, SwedSec and the Swedish Securities Dealers AssociationAbout Immune Pharmaceuticals Inc. Immune Pharmaceuticals Inc. (OTCQX and NASDAQ OMX Stockholm Exchange: IMNP) 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 entering Phase II clinical studies for moderate to severe ulcerative colitis and bullous pemphigoid, with additional studies planned for Crohn's disease and severe asthma. The Company is evaluating the use of its NanomAb® platform, a second generation antibody drug conjugate technology, with chemotherapeutics in order to enhance their safety and efficacy profiles by delivering the medicines directly to cancer cells. The Company's growing oncology pipeline also includes proprietary antibodies and, clinical-stage small molecules that have been shown activity in a variety of solid tumors.