REG - Genflow Biosciences - OTCQB Application

Genflow BiosciencesAnnouncement

19/04/2023 07:00

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RNS Number : 6615W  Genflow Biosciences PLC  19 April 2023

 

19 April 2023

 

 

Genflow Biosciences Plc

 

("Genflow" or "the Company")

 

Application for Trading on US OTCQB Venture Market

 

 

The board of Genflow is pleased to announce that the Company has submitted an
application for trading of the Company's ordinary shares ("Ordinary Shares")
on the OTCQB Venture Market in the United States.

 

Trading on the OTCQB market will allow Genflow to access one of the world's
largest investment markets, and expand its reach to a broader pool of
investors thus creating the potential for greater liquidity in its Ordinary
Shares. Ordinary Shares will, upon successful trading on the OTCQB, be
available to US investors, during US trading hours, priced in US dollars,
thereby easing cross-border trading.

 

Given the secure financial position in which the Company current finds itself,
there is no capital raise required or associated with Genflow's trading on the
OTCQB market and the Ordinary Shares will continue to trade on the Main Market
of the London Stock Exchange, under the ticker GENF.

 

Importance of the US

The US is an important jurisdictional focus for the Company as it is at the
forefront of longevity advancements.  Trading on the OTCQB will also provide
the Company with a  platform to showcase its innovative solutions and
technologies to a wider audience, raising its profile and increasing
visibility within the global biotech industry.

The platform will also enable Genflow to tap into the expertise and resources
of the US market, including access to potential strategic partners, assisting
with the acceleration of the Company's growth and development.

In the US, the Company already has close ties with the University of Rochester
in New York, through Vera Gorbunova, a member of the Company's Scientific
Advisory Board ("SAB"), as well as the Buck Institute based in California
through Eric Verdin, also a member of the SAB. These partnerships provide the
Company with valuable access to cutting-edge research and expertise in the
field of longevity. As such, the advancement onto the OTCQB emphasises the
commitment to leveraging these relationships and expanding the Company's
presence in the US.

 

61.5% of the world's longevity-focused companies are located in the US,
compared to just 17.3% in Europe and 9.8% in Asia.  Examples of US companies
operating in this space include Altos Labs and Alphabet Inc.

 

Eric Leire, CEO of Genflow, remarked: "As a board we are keen to grow the
Company's investor base, particularly in the US, and thus, continually improve
liquidity.

 

The forefront of advancements in the longevity sector occur in the US and so
it is naturally an ambition of ours to increase Genflow's exposure there.
Investments and interest in this sector by high profile  names including
Larry Page and Jeff Bezos, have increased investor curiosity and appetite."

 

Further Information on Genflow's application and the OTCQB Market below:

 

As a Foreign Private Issuer, Genflow's onboarding to the OTC Markets is based
on satisfaction of the requirements for OTCQB as applicable to international
reporting companies including satisfaction of the criteria for the exemption
under the US Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule
12g3-2(b) exemption includes the disclosure obligation to ensure that certain
information made public or distributed under home market regulations is made
publicly available on the Company's website or other electronic information
delivery system in English. Thus, the Company will have no additional
reporting obligations and incur minimal ongoing costs, compared to traditional
major exchanges.

 

As a verified market, the OTCQB offers transparent trading for companies that
have met a minimum bid price test, are current in their financial reporting
and have undergone an annual verification and management certification
process. The cross-trading facility is provided through OTC Markets Group
Inc., located in New York. OTC Markets operates the world's largest electronic
interdealer quotation system for US broker dealers and offers multiple media
channels to increase the visibility of OTC-listed companies. Online brokers
such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and
E-trade all offer OTCQB trades. US investors can find real-time quotes, market
information and access current Company news and developments on a Genflow
dedicated page on the OTC Markets website after the application is completed .

 

Genfow has appointed Galanopoulos & Company as its OTCQB Sponsor.

 

Additional information about the OTCQB market can be found at:

www.otcmarkets.com/learn/market-101
(http://www.otcmarkets.com/learn/market-101)

 

The information communicated in this announcement is inside information for
the purposes of Article 7 of Regulation 596/2014.

 

 

For further information please contact:

 

 Genflow Biosciences Plc
 Dr Eric Leire             +32 477 495 881

 Chief Executive Officer

 Clear Capital Markets
 Corporate Broker          +44 203 869 6080

 Jonathan Critchley

 

About Genflow Biosciences

 

Genflow is a UK-based biotechnology company established in 2020. The Company
is developing gene therapies designed to target the aging process and to
reduce and delay the incidence of age-related diseases. This will be done
through novel therapeutics targeting aging in humans by using adeno-associated
virus ("AAV") vectors to deliver copies of the Sirtuin-6 ("SIRT6") gene
variant that is found in centenarians into cells.

 

Its mission is to increase our understanding of the factors that control and
impact lifespan. Genflow researches, develops, and commercialises therapeutic
solutions to lengthen health span, the amount of time we live in good health,
creating biological interventions that enable longer and healthier lives.
Genflow is dedicated to the development and commercialisation of novel
therapeutics targeting aging in dogs and humans. By treating aging, Genflow
can contribute to a decrease in healthcare costs and lessen the emotional and
societal burden that comes with an aging population.

 

To learn more visit www.genflowbio.com (http://www.genflowbio.com)

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