REG - Oxford BioDynamics - Shareholder Loan and Related Party Transaction

Oxford BiodynamicsAnnouncement

19/12/2024 14:45

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RNS Number : 8134Q  Oxford BioDynamics PLC  19 December 2024

Oxford BioDynamics
("OBD" or the "Company" and, together with its subsidiaries, the "Group")

 

Shareholder Loan and Related Party Transaction

 

Oxford, UK - 19 December 2024 - Oxford BioDynamics, Plc (AIM: OBD, the
Company), a precision clinical diagnostics company bringing specific and
sensitive tests to the practice of medicine based on its EpiSwitch® 3D
genomics platform announces that it has entered a loan agreement with Vulpes
Testudo Fund (the "Loan"). The Loan will provide up to £1 million in working
capital, to enable the Company to continue to pursue funding options.

 

The Loan is interest free and may be drawn down as required by the Company.
The amount owed to Vulpes under the Loan agreement will be subordinate to
amounts owed to other creditors. The Loan is unsecured and is due to be repaid
within 90 days.

 

Together with the Vulpes Life Sciences Fund, Vulpes Testudo Fund is interested
in a total of 29,653,978 ordinary shares, representing 9.4% of the current
issued share capital. Each of the funds is part of Vulpes Investment
Management, which is controlled by Non-Executive Director Stephen Diggle. As a
result, the Loan is considered a related party transaction under AIM Rule 13.

 

Having consulted with the Company's Nominated Adviser, Shore Capital, the
Board (except for Stephen Diggle), considers that the terms of the Loan as set
out above are fair and reasonable as far as the Company's shareholders are
concerned.

 

The Loan provides the Company with additional working capital and cash runway,
but the Company will still need to source additional funding in early Q1 2025.
A further update will be provided as appropriate.

 

Matthew Wakefield, Non-Executive Chairman, commented: "We are grateful to
Vulpes for supporting the Company in this way. The loan facility provides the
Company and its incoming Executive Chairman Iain Ross with additional time to
secure further equity funding."

 

-Ends-

 

For more information:

 

 Oxford BioDynamics Plc                  +44 (0)1865 518910

 Matthew Wakefield, Chairman

 Paul Stockdale, CFO
 Shore Capital                           +44 (0)20 7408 4090

(Nominated Adviser and Broker to OBD)

 Stephane Auton

 Lucy Bowden
 WG Partners                             +44 (0)20 3705 9330

 (Joint Broker to OBD)

 David Wilson / Claes Spång /

Satheesh Nadarajah / Erland Sternby
 Oak Securities                          +44 (0)20 3973 3678

 (Joint Broker to OBD)

 Jerry Keen / Henry Clarke
 Vigo Consulting                         +44 (0)20 7390 0230
 (Media / Analyst enquiries for OBD)

Rozi Morris                            obd@vigoconsulting.com

 

Notes for Editors

About Oxford BioDynamics Plc

Oxford BioDynamics Plc (AIM: OBD) is an international biotechnology company,
advancing personalized healthcare by developing and commercializing precision
clinical diagnostic tests for life-changing diseases.

Currently OBD has two commercially available products: the EpiSwitch® PSE
(https://url.avanan.click/v2/___http:/www.94percent.com/___.YXAxZTpzaG9yZWNhcDphOm86ZGFiYjhlY2EwMWM5YWYzYjdhZjZhZmExZGM4OTMyMDg6NjphZTRmOjE1ZmE3ZTA1NmFmMzlmYjIzZmFhOGU1NTc5MWI0OTdiODZmMjVmOTFlOWQ2YjBiZTM3YmNmMTMxMGYxOTcxMjI6cDpU)
(EpiSwitch Prostate Screening test) and EpiSwitch® CiRT
(https://url.avanan.click/v2/___https:/www.mycirt.com/___.YXAxZTpzaG9yZWNhcDphOm86ZGFiYjhlY2EwMWM5YWYzYjdhZjZhZmExZGM4OTMyMDg6NjpjZGI4OjQ3ZWJmMjU3YzNhNjYzYzNiYWVjZGNlMTJjZDM5ZGZkYzBlNmQyNTc0OTdlZWU4ZGI4ODFlYzU1OWZmN2JmMWE6cDpU)
(Checkpoint Inhibitor Response Test) blood tests. PSE boosts the predictive
accuracy of a PSA test from 55% to 94% when testing the presence or absence of
prostate cancer. CiRT is a highly accurate (85%) predictive response test to
immuno-oncology checkpoint inhibitor treatments.

The tests are based on OBD's proprietary 3D genomic biomarker platform,
EpiSwitch® which enables screening, evaluation, validation and monitoring of
biomarkers to diagnose patients or determine how individuals might respond to
a disease or treatment.

OBD's clinical smart tests have the potential to be used across a broader
range of indications, and new tests are being developed in the areas of
oncology, neurology, inflammation, hepatology and animal health.

The Group's headquarters and UK laboratories are in Oxford, UK. Its US
operations and clinical laboratory are in Maryland, USA, along with a
reference laboratory in Penang, Malaysia.

OBD is listed on the London Stock Exchange's AIM (LSE: OBD). For more
information, please visit the Company's website, www.oxfordbiodynamics.com
(https://url.avanan.click/v2/___http:/www.oxfordbiodynamics.com___.YXAxZTpzaG9yZWNhcDphOm86ZGFiYjhlY2EwMWM5YWYzYjdhZjZhZmExZGM4OTMyMDg6Njo3YmRiOmUxODM2ZWZhYmIxNjdhMjFiNTMxOThjNjE0YzMwYzg5YzA1MjI2MmYxMGY0ZTU1MzdjYzdlYzg1NDA5ZTcyOWU6cDpU)
, X (@OxBioDynamics) or LinkedIn
(https://url.avanan.click/v2/___https:/www.linkedin.com/company/oxford-biodynamics___.YXAxZTpzaG9yZWNhcDphOm86ZGFiYjhlY2EwMWM5YWYzYjdhZjZhZmExZGM4OTMyMDg6NjozM2I4OmVmNzdkN2M0NmYxZDg3ODc0MWQ1NDEyMGQ4MjAxOWVmMTg4ZTMzNWY4MTA5NGE3NTE5ZDdlNWIwNjI5MTRhMTM6cDpU)
.

 

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