Strategy

This E-Mail is my E-Mail to Marc from today morning:

Hello Marc,

I read this article with interest :"GSK buys autoimmune T cell engager for $300M upfront from Chimagenby Lei Lei WuAs early data show how T cell engagers - originally developed for cancers - can potentially treat a range of autoimmune diseases, GSK is buying its own molecule from Chimagen Biosciences.The UK pharma is paying $300 million upfront to acquire global rights to Chimagen's antibody CMG1A46 in a deal that comes with another $550 million in milestones. GSK said it plans to test the T cell engager in autoimmune diseases like lupus erythematosus and lupus nephritis.The deal comes after Merck paid $700 million to Curon in August for a CD3xCD19 bispecific antibody that could treat B cell cancers and autoimmune diseases.Lupus is a disease area that GSK is familiar with, having developed and commercialised the lupus treatment Benlysta."The article discusses the out-licensing of a preclinical candidate for autoimmune diseases, which is associated with a potential payment of USD 300 million. The central question is how Immutep should proceed with the active substance IMP 761: Should this be out-licensed after a successful Phase I trial to generate funding for cancer research, or should development in both areas continue in parallel? I have concerns that due to limited financial resources and poor access to the capital market, research in both segments may not be financeable or, due to the low market capitalisation, can only be financed with a very high dilution of shareholders.I look forward to a reply.

Yours sincerelyJohannes**
Conclusions:**
1. Immutep is faced with a strategic decision regarding the out-licensing of IMP 761.
2. the choice between out-licensing and parallel development could have a significant impact on the company's financial situation and share price.3. the current financial environment and access to capital markets pose challenges for research in both areas.