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RNS Number : 8641O CRISM Therapeutics Corporation 30 June 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF
CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR
SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF CRISM THERAPEUTICS CORPORATION IN ANY JURISDICTION IN
WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.
596/2014, AS INCORPORATED INTO UK LAW BY THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. IN ADDITION, MARKET
SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE
MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN
PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE
PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN
POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
30 June 2025
CRISM Therapeutics Corporation
("CRISM", "CRISM Therapeutics" or the "Company")
Placing to raise approximately £800,000 (before expenses)
CRISM Therapeutics Corporation (AIM: CRTX), the innovative UK drug delivery
company focused on the localised delivery of chemotherapy drugs, is pleased to
announce that it has successfully raised £800,000 (before expenses) by way of
a placing of 6,666,668 new ordinary shares of no par value each in the Company
("Placing Shares") at a price of 12 pence per share (the "Issue Price") (the
"Placing"). The Placing Shares each have an attaching grant of warrants
("Warrants") on a one for two basis, exercisable at a price of 24 pence per
share, and expiring 24 months after the date of the admission to trading on
AIM of the Placing Shares.
The Placing was undertaken by the Company's broker, SP Angel Corporate Finance
LLP.
The Company values its retail shareholder base and believes that it is
appropriate to provide existing retail shareholders the opportunity to
purchase shares at the Issue Price. The Company intends to carry out a
separate retail offer to raise further gross proceeds of up to £100,000 via
the BookBuild Platform (the "Retail Offer"). A further announcement will be
made shortly regarding the Retail Offer and its terms.
Highlights of the Placing:
- Completion of Placing raising £800,000 (before expenses) through
the issue of 6,666,668 Placing Shares at 12 pence per share
- The Company will use the net proceeds of the Placing for:
o The GMP manufacture, sterilization, batch qualification, packaging and
distribution of a clinical batch of ChemoSeed for evaluation of safety and
efficacy in glioblastoma patients in a Phase 2 registration grade clinical
trial
o Clinical trial set up costs, including first patients dosed in early 2026
- CRISM CEO, Andrew Webb, and Non-Executive Director, Gerry Beaney,
both participated in the Placing
- A separate retail offer to existing holders will be launched
shortly
CRISM CEO, Andrew Webb, said: "The strong support from investors in this
fundraising reflects the positive progress we have delivered since joining AIM
last year. We are now at a very exciting stage in the development of the
Company as we move closer to the start of our Phase 2 trial in glioblastoma
using our novel drug delivery platform, ChemoSeed. We thank investors for
their support and look forward to the launch of the retail offer, which will
give existing shareholders an opportunity to participate in this funding
round. With this funding we now have the opportunity to accelerate the
approval and commercialisation of a new, much needed treatment for this
devastating disease."
Rationale for the Placing
The Placing will enable the Company to continue to progress the development of
ChemoSeed. Specifically, the Placing proceeds will fund CRISM for GMP
manufacture of a clinical trial batch of ChemoSeed, through the MHRA's
Clinical Trial Authorisation approval process and to first patients dosed in
CRISM's registration grade Phase 2 clinical trial in early 2026.
The Company's Clinical Trial Authorisation application for regulatory approval
to conduct its Phase 2 trial is expected to be submitted later today, and a
further announcement will be made following the submission.
Directors' Participation and Related Party Transactions
Certain Directors of the Company have participated in the Placing, details of
which are in the table below:
Director Number of Placing Shares subscribed for Number of ordinary shares held immediately following Admission % interest in ordinary shares immediately following Admission
Andrew Webb 291,667 6,380,523 16.22%
Gerry Beaney 112,500 157,682 0.40%
The participation of Andrew Webb and Gerry Beaney in the Placing (including
the issue of the Warrants referred to below) constitutes related party
transactions for the purposes of Rule 13 of the AIM Rules for Companies. The
Directors independent of the Placing, being Chris McConville and Nermeen
Varawalla, consider, having consulted with SP Angel Corporate Finance LLP, the
Company's Nominated Adviser, that the Directors' participation in the Placing
is fair and reasonable in so far as CRISM's shareholders are concerned.
Warrants
The Company will issue participants of the Placing with one Warrant for every
two Placing Shares. As a result, 3,333,330 Warrants will be issued to the
placees. Each Warrant will provide the holder with the right to one new
ordinary share on its exercise. The Warrants will be exercisable at a price of
24 pence for period of 24 months from the date of admission of the Placing
Shares.
Directors Andrew Webb and Gerry Beaney have been issued with 145,833 and
56,250 Warrants respectively, as a result of their participation in the
Placing.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the
Placing Shares ("Admission"). It is expected that Admission will become
effective and that trading will commence in the Placing Shares at 8.00 a.m. on
or around 3 July 2025, or such later date as may be agreed between the Company
and SP Angel. The Placing Shares will rank pari passu with the Company's
existing ordinary shares.
Following the issue of the Placing Shares, the total issued share capital of
the Company will consist of 39,344,980 ordinary shares. The Company does not
hold any ordinary shares in treasury. Therefore, the total number of voting
rights in the Company is 39,344,980 and this figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
-Ends-
Enquiries:
Company Nomad and Broker Financial PR
CRISM Therapeutics Corporation S.P. Angel Corporate Finance LLP Burson Buchanan
Andrew Webb, CEO Richard Morrison Mark Court / Jamie Hooper
Chris McConville, CSO Adam Cowl CRISM@buchanancomms.co.uk
via Burson Buchanan +44 (0) 20 3470 0470 +44 (0) 20 7466 5000
About CRISM Therapeutics Corporation
CRISM Therapeutics Corporation has developed an innovative drug delivery
technology to improve the clinical performance of cancer treatments for solid
tumours through the local delivery of chemotherapy drugs.
ChemoSeed, CRISM's lead product, can be implanted directly into the tumour or
the resection margin following the removal of a tumour. This directs that
therapeutic concentrations of chemotherapy drugs reach the deep-seated tumour
tissue or cover the entire resection margin. In the case of treating
high-grade glioma, ChemoSeeds can be implanted during surgery thereby
bypassing the blood brain barrier, which prevents other treatments from being
able to reach the tumour and be effective.
For more information please visit: https://www.crismtherapeutics.com/
(https://www.crismtherapeutics.com/)
Dealings by Persons Discharging Managerial Responsibilities
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1) Andrew Webb
2) Gerald Beaney
2 Reason for the notification
a) Position/status 1) Chief Executive Officer
2) Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name CRISM Therapeutics Corporation
b) LEI 213800XFW6MKVCHHPW88
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares with no par value
Identification code ISIN: VGG042401262
b) Nature of the transaction Purchase of shares
c) Price(s) and volume(s)
Director/PDMR Price Volume
Andrew Webb 12p 291,667
Gerald Beaney 12p 112,500
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 30 June 2025
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
N/A
- Price
N/A
e)
Date of the transaction
30 June 2025
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1) Andrew Webb
2) Gerald Beaney
2 Reason for the notification
a) Position/status 1) Chief Executive Officer
2) Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name CRISM Therapeutics Corporation
b) LEI 213800XFW6MKVCHHPW88
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares with no par value
Identification code ISIN: VGG042401262
b) Nature of the transaction Issue of warrants
c) Price(s) and volume(s)
Director/PDMR Price Volume
Andrew Webb 24p 145,833
Gerald Beaney 24p 56,250
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 30 June 2025
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
N/A
- Price
N/A
e)
Date of the transaction
30 June 2025
f)
Place of the transaction
Outside a trading venue
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