REG - BiVictriX Therapcts. - Admission to Trading on AIM & First Day Dealings
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF BIVICTRIX THERAPEUTICS PLC (THE "COMPANY") IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
Investors should not use this announcement as the basis for any investment in the securities of the Company which should only be made on the basis of information contained in the admission document (the "Admission Document") published by BiVictriX Therapeutics plc (the "Company" and, together with its subsidiary undertakings, the "Group", "BiVictriX") in connection with the proposed admission of its Ordinary Shares to trading on the AIM market ("AIM") of the London Stock Exchange plc (the "London Stock Exchange") ("Admission"). The Admission Document is available to view on the Company's website at www.bivictrix.com.
BiVictriX Therapeutics plc
("BiVictriX", the "Company" or the "Group")
Admission to Trading on AIM
and
First Day of Dealings
Alderley Park, UK, 11 August 2021: BiVictriX Therapeutics plc, an emerging biotechnology company applying a novel approach to develop next generation cancer therapies using insights derived from frontline clinical experience, is pleased to announce the admission of its entire issued and to be issued ordinary share capital (the "Ordinary Shares") to trading on the AIM market of the London Stock Exchange ("Admission").
The commencement of trading of the Company's Ordinary Shares follows a successful oversubscribed placing by SP Angel Corporate Finance LLP ("SP Angel"), raising gross proceeds of £7.5 million at a price of 20 pence per Ordinary Share. At Admission, the market capitalisation of the Company will be approximately £13.2 million.
Dealings have commenced at 8.00 a.m. today under the ticker symbol "BVX" and the ISIN number GB00BNXH3K91.
Tiffany Thorn, Chief Executive Officer and Founder of BiVictriX Therapeutics plc, said: "Today's listing on London's AIM market is a major milestone for BiVictriX. Our vision is to revolutionise cancer therapy for the most difficult to treat cancers, making curative treatments available to all. The funds raised will help us to accelerate our growth and expedite the development and delivery of our pioneering, highly selective cancer therapeutics to patients diagnosed with some of the most challenging cancers and supporting patients who are currently in urgent need of more effective medicines.
"I would like to take this opportunity to offer our sincere gratitude and thanks to all of our staff, advisers and shareholders who have been instrumental in getting us to where we are today. I would also like to take this opportunity to welcome new shareholders to the register and thank them for their support in enabling us to continue to carry out this critical work. I look forward to life as a public company and progressing our development programmes to the next stage with the support of our shareholders."
Placing and Subscription Statistics
Fundraise
Placing Price (per Share)
20 pence
Number of Placing Shares
23,968,543
Number of Subscription Shares
13,531,457
Gross proceeds of the Placing (receivable by the Company)
£4,793,708.60
Gross proceeds of the Subscription (receivable by the Company)
£2,706,291.40
Total gross proceeds of the Fundraise (receivable by the Company)
£7,500,000
Estimated net proceeds of the Fundraise available to Company
£6,670,000
Estimated costs of the Fundraise and Admission
£830,000
Upon Admission
Enlarged Share Capital in issue upon Admission
66,115,201
Number of Ordinary Shares under Option or Warrant following Admission
15,518,832
Fully diluted number of Ordinary Shares following Admission
81,634,033
Unless otherwise stated, the capitalised terms used in this announcement have the same meanings as in the Admission Document. Copies of the Admission Document are available on the Company's website at www.bivictrix.com.
For more information, please contact:
BiVictriX Therapeutics plc
Tiffany Thorn, Chief Executive Officer
Email: info@bivictrix.com
Consilium Strategic Communications
Ashley Tapp, Priit Piip
Tel: +44 (0) 20 3709 5700
Email: Bivictrix@consilium-comms.com
SP Angel Corporate Finance LLP (NOMAD and Broker)
Tel: +44 (0) 20 3470 0470
David Hignell, Caroline Rowe (Corporate Finance)
Vadim Alexandre, Rob Rees (Sales & Broking)
Company Highlights
· BiVictriX applies state of the art techniques to identify combinations of cancer-specific targets for both solid and liquid tumours, cancer-specific "twin antigen" fingerprints clearly differentiate cancerous vs healthy cells.
· Company's proprietary Bi-Cygni® approach can be applied to build a diverse pipeline of first-in-class therapeutics across the wider spectrum of immunotherapeutic platforms, addressing key unmet medical needs in the market.
· Established collaborations with a number of academic groups including University of Liverpool and Swansea University, both of which build on the know-how in the Company's novel Bi-Cygni® technology approach and intellectual property.
· Intellectual property protection: BiVictriX has a growing IP and patent portfolio with broad protection already in place for its lead programme BVX001.
· Strong management team and Board: The founder and CEO is a Clinical Immunologist with years of frontline NHS and highly relevant industry experience. She is supported by experienced Non-Executive Chairman, Iain Ross, and Board of Directors with a broad range of scientific and commercial experience from industry and leading academic institutions.
· Management team focused on building a pipeline to create shareholder value whilst rapidly bringing game-changing treatments for patients forward at a vital time.
Use of Proceeds
The net proceeds of the Fundraise will be used to:
· Accelerate the lead optimisation of BVX001 to reach key preclinical milestones on efficacy and safety;
· Expand BiVictriX's early-stage pipeline to include two additional candidates with preclinical proof of concept;
· Grow BiVictriX's intellectual property portfolio to add further protection around the lead programme and additional pipeline; and
· Expand BiVictriX's internal capabilities to include providing potential avenues for platform intellectual property generation and defensibility of BiVictriX's approach.
Admission
The Directors believe that Admission will be an important step in the Group's development and will assist the Group in its development by raising its public profile, widening its shareholder base, providing potential future access to development capital to progress its current and future pipeline of proprietary products and enabling it to expand within its chosen therapy areas and expand its commercial partnerships. It will also provide the Group with the ability to incentivise its employees through share incentive plans, which should assist it in continuing to attract, retain and motivate high calibre employees.
Forward looking statements
This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, or any statements preceded by, followed by or that include the words 'targets', 'believes', 'expects', 'aims', 'intends', 'will', 'may', 'anticipates', 'would', 'could' or similar expressions or negatives thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law.
Important notices
SP Angel, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and no-one else in connection with Admission. SP Angel will not regard any other person as its client in relation to Admission and will not be responsible to anyone other than the Company for providing the regulatory protections afforded to its clients, nor for providing advice in relation to the contents of this announcement or any transaction, arrangement or other matter referred to herein.
Neither SP Angel, nor any of its affiliates or any of its directors, officers, employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions contained in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith and any liability therefore is expressly disclaimed.
This announcement does not constitute or form part of any offer for sale or subscription or any solicitation of any offer to buy or subscribe for any securities and neither this announcement nor any part of it forms the basis of or may be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The contents of this announcement are not to be construed as legal, financial or tax advice. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all or part of the amount invested. Persons considering making such an investment should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the Ordinary Shares. The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. On any sale of an investment an investor may get back less than he or she originally invested. Potential investors should consult a professional adviser as to the suitability of the Ordinary Shares for the person concerned before making any investment decision. Past performance cannot be relied upon as a guide to future performance.
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