REG - Cardiogeni PLC - Admission on AQSE and First Day of Dealings

Aquis ExchangeAnnouncement

31/01/2025 08:15

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RNS Number : 3634V  Cardiogeni PLC  31 January 2025

31 January
2025
 

 

Cardiogeni PLC
("Cardiogeni" or the "Company")

Admission on AQSE and First Day of Dealings

Cardiogeni (AQSE: CGNI), a UK clinical stage biotechnology company developing
novel heart failure medicines, is pleased to announce that admission of its
entire share capital consisting of ordinary shares of £0.01 each ("Ordinary
Shares") to trading on the Access segment of the Aquis Stock Exchange ("AQSE")
will take place and dealings will commence at 8.00 a.m. today ("Admission"),
under the ticker CGNI and ISIN number GB00BTBLFC12.

 

On Admission, the Company will have 85,346,529 Ordinary Shares in issue and
the market capitalisation of the Company will be approximately £125,459,398.

 

The commencement of trading of the Company's Ordinary Shares follows a
£1,442,546.28 subscription completed by the Company for a total of 981,324
Ordinary Shares at £1.47 per Ordinary Share ("Issue Price") paid in cash and
to satisfy accrued debt which was conditional on Admission ("Subscription").

 

On 12 May 2022, the Company secured a £100M share subscription facility
agreement from GEM Global Yield LLC SCS and GEM Yield Bahamas Limited ("GEM
Facility"). Today, the Company issued GEM Global Yield LLC ("GEM") with
1,360,545 Ordinary Shares at the Issue Price to satisfy the fee in the amount
of £2,000,000 payable to GEM under GEM Facility and granted warrants over 2%
of the fully diluted share capital on admission exercisable at the Issue Price
for a term of three years. The GEM Facility grants the Company the right to
draw down funds from GEM in consideration of the issue of Ordinary Shares to
GEM up to a maximum aggregate subscription price of £100,000,000, subject to
the terms and conditions set out in the GEM Facility.

 

Darrin Disley, Executive Chairman at Cardiogeni, said "I am delighted that
today, with the admission of the Company's issued share capital to AQSE, we
begin the next phase of our mission to bring first- and best-in class
allogeneic cell therapy products to patients suffering early- to mid-stage
heart-failure. Our initial product CLXR-001 is the subject of granted patents
in the US, UK and thirty-four countries within the European Patent
Organisation ("EPO") and has already been successfully evaluated in extensive
pre-clinical studies and a Phase II human clinical trial. It is now the
subject of a randomised controlled trial in an EU member country in which we
expect to see a clinically meaningful benefit for patients undergoing Coronary
Artery Bypass Graft surgery to treat mid-stage heart failure ("CABG")."

 

Through the Company's admission to AQSE our aim is to take the first steps
towards increasing the scope of our current randomised controlled trial to
include more patients and a dose escalation arm and file for the approval of a
Pivotal Phase 3 study for CLXR-001 in the CABG indication. Additionally, we
intend to perform additional Phase I/II studies for indications that target
early-stage heart failure.

 

About Cardiogeni

 

Founded by Nobel Laureate, Professor Sir Martin Evans, the Cardiogeni Group is
developing a new class of life-saving cellular medicines. The Group's platform
technology enables the creation of unique (living) cells that are engineered
with a specific therapeutic function.

 

The Group's lead product, CLXR-001, is a patented engineered cellular medicine
to treat heart failure patients which is administered during coronary artery
bypass grafting surgery. The Group's novel epigenetic cellular reprogramming
technology was developed in-house by Professor Sir Martin Evans and the
platform along with the pipeline of medicines in development are protected by
a portfolio of ~100 international patents and trademarks.

 

CLXR-001 targets heart failure which will affect 1 in 4 people in their
lifetime and is not reversible or curable. CLXR-001 consists of a novel
allogeneic (off-the-shelf) cell type, iMP cells, engineered for cardiac
regeneration whose mechanism of action is to regenerate damaged heart tissue
and restoration of improved heart function improving both the life expectancy
and quality of life of patients.

 

CLXR-001 targets the cardiac market niche of CABG surgery with ~400,000
patients per year in the US alone. The Group's two follow-on products target
larger cardiac market segments of stent treatment (over two million patients
per year) and myocardial infarction (heart attack, over one million patients
per year). Each of the products has the potential to become a first or
best-in-class blockbuster ($1B in annual sales) medicine.

 

CLXR-001 has successfully completed an EU Phase II investigator sponsored
clinical trial in which patients showed a statistically significant
(P<0.05) improvement in all end-point targets including heart function,
reduction in heart scarring and an improvement in quality of life.

 

CLXR-001 has received regulatory approval to begin a randomised controlled
trial from the national regulatory authority of a European Union member
country and this trial has begun dosing patients with interim data expected to
read-out within 18 months of Admission.

 

The Company's admission document is available to view on its website:
www.cardiogeni.com (http://www.cardiogeni.com)

 

The directors of Cardiogeni accept responsibility for this announcement.

For further information please contact:

 Cardiogeni PLC
 Darrin Disley, Executive Chairman  Via First Sentinel
 First Sentinel Corporate Finance Limited

 Corporate Adviser
 Brian Stockbridge                  +44 (0) 7858 888007

 Gabrielle Cordeiro

 

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