REG - Proteome Sciences - £840,000 Fundraise and Retail Offer

Proteome SciencesAnnouncement

26/01/2026 07:00

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RNS Number : 2882Q  Proteome Sciences PLC  26 January 2026

 

This Announcement does not constitute a prospectus or offering memorandum or
an offer in respect of any securities and is not intended to provide the basis
for any investment decision in respect of Proteome Sciences plc or other
evaluation of any securities of Proteome Sciences plc or any other entity and
should not be considered as a recommendation that any investor should
subscribe for or purchase any such securities.

This Announcement contains inside information for the purposes of Article 14
of the UK version of the market abuse regulation (EU No.596/2014) as it forms
part of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended by the European Union (Withdrawal) Act 2020
("UK MAR"). In addition, market soundings (as defined in UK MAR) were taken
in respect of certain of the matters contained in this Announcement, with the
result that certain persons became aware of such inside information, as
permitted by UK MAR. Upon the publication of this Announcement, this inside
information is now considered to be in the public domain and such persons
shall therefore cease to be in possession of inside information.

26 January 2026

Proteome Sciences plc

("Proteome Sciences" or the "Company")

 

£840,000 Fundraise and Retail Offer

Proteome Sciences (AIM:PRM) is pleased to announce that it has successfully
raised gross proceeds of £840,000 (the "Fundraise") through the issue of
48,000,000 ordinary shares of one penny each in the capital of the Company
(the "Ordinary Shares") to new and existing investors (the "Fundraise Shares")
at a price of 1.75 pence per Fundraise Share (the "Issue Price").

The Fundraise comprises: (i) a placing to new and existing institutional
investors (the "Placing") of 29,428,572 Fundraise Shares; and (ii)
subscriptions by Vulpes Life Science Fund, the Company's major shareholder,
and Richard Dennis, the Company's Chief Commercial Officer, (the
"Subscription") for 18,571,428 Fundraise Shares, each at the Issue Price.

The Fundraise Shares will represent approximately 14% of the Company's
enlarged issued share capital following the Fundraise.

The Fundraise was undertaken by the Company's broker, SP Angel Corporate
Finance LLP ("SP Angel").

Retail Offer

The Company values its retail shareholder base and believes that it is
appropriate to provide existing retail and other shareholders the opportunity
to purchase new Ordinary Shares in the capital of the Company at the Issue
Price.  The Company intends to carry out a separate retail offer to raise
further gross proceeds of up to £60,000 through the BookBuild Platform (the
"Retail Offer").

A further announcement will be made shortly regarding the Retail Offer and its
terms. It is expected that the Retail Offer will launch later today and will
close at 12:00 p.m. on 28 January 2026.

Background to the Fundraise and Use of Proceeds

Following the Company's recent announcements regarding new substantial
contracts with biopharma clients in both Europe and the USA, the Company has
undertaken the Fundraise primarily to enable it to exploit new and
complementary revenue streams in these jurisdictions.

 

The net proceeds of the Fundraise and the Retail Offer will be used to fund
the following workstreams:

o Increasing Tandem Mass Tag ("TMT") tags plexing rate from 32X to 96X;

o Launching an innovative new range of DXT isotopic plex tags;

o Introducing novel 'Solvent Shift' chemoproteomic workflows;

o Concluding a DXT licence;

o Expanding staff and mass spectrometry ("MS") capacity in San Diego to meet
demand; and

o Additional working capital.

 

Proteome Sciences Executive Chairman, Christopher Pearce, said:

"Our 2026 year has started well with the award earlier in January of two Good
Clinical Laboratory Practice  (GCLP) contracts with a combined value in
excess of US$1.5 million for our proteomics services division.

 

Following the significant investment already made in capacity, staff and the
San Diego facility, we are optimistic that we can deliver substantial
increases and returns against the fast rate of growth projected for Proteomics
to 2030."

 

Director Participation and Related Party Transactions

Richard Dennis, the Company's Chief Commercial Officer, has participated in
the Subscription, subscribing for 1,428,571 Fundraise Shares at the Issue
Price. Following the Admission of the Fundraise Shares (see below), Mr Dennis
will hold 2,053,571 Ordinary Shares.

 

In addition, Vulpes Life Science Fund ("Vulpes"), a substantial shareholder in
the Company which was co-founded by and is now chaired by Martin Diggle, a
Non-Executive Director of the Company, has subscribed for 17,142,857 Fundraise
Shares at the Issue Price. Following the Admission of the Fundraise Shares,
Vulpes will hold 84,932,629 Ordinary Shares.

 

The updated percentage holdings of Mr Dennis and Vulpes will be disclosed in
due course along with the result of the Retail Offer.

 

Related Party Transaction

Richard Dennis is a Director of the Company and Vulpes is a substantial
shareholder in the Company (the "Related Parties"), as such their
participation in the Fundraise constitutes a related party transaction in
accordance with AIM Rule 13.

 

Roger McDowell, Dr Ursula Ney and Dr Ian Pike are not participating in the
Fundraise and are therefore considered independent Directors for these
purposes. Having consulted with the Company's Nominated Adviser, SP Angel,
they consider the terms of the Related Parties' participation in the Fundraise
to be fair and reasonable insofar as the Company's shareholders are concerned.

 

Loan Facility Conversion Adjustment

Christopher Pearce, the Company's Executive Chairman, currently has a £5
million convertible loan facility in place with the Company (the "Loan
Facility"), which can, in certain circumstances, be converted in whole or in
part into ordinary shares in the capital of the Companyat a conversion price
of one penny per ordinary share.

 

In conjunction with the Fundraise, Mr Pearce has agreed to vary the conversion
terms of the Loan Facility, so that the Loan Facility can now only be
converted in whole or in part at a minimum conversion price of four pence (the
"Loan Facility Conversion Adjustment").

 

Related Party Transaction

Christopher Pearce is a Director of the Company, as such the Loan Facility
Conversion Adjustment constitutes a related party transaction in accordance
with AIM Rule 13.

 

Roger McDowell, Dr Ursula Ney and Dr Ian Pike are considered independent
Directors for these purposes. Having consulted with the Company's Nominated
Adviser, SP Angel, they consider the terms of the Loan Facility Conversion
Adjustment to be fair and reasonable insofar as the Company's shareholders are
concerned.

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the
Fundraise Shares ("Admission"). It is expected that Admission will become
effective and that trading will commence in the Fundraise Shares at 8.00 a.m.
on or around 29 January 2026, or such later date as may be agreed between the
Company and SP Angel. The Fundraise Shares will rank pari passu with the
Ordinary Shares.

 

Following the issue of the Fundraise Shares, the total issued share capital of
the Company will consist of 343,182,056 Ordinary Shares. The Company does not
hold any Ordinary Shares in treasury. Therefore, the total number of voting
rights in the Company is 343,182,056 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 Guidance and Transparency Rules.

 

A further update regarding the Company's Total Voting Rights will be provided
when the result of the Retail Offer is known.

 

- Ends -

For further information:

 Proteome Sciences plc
 Dr. Ian Pike, Chief Scientific Officer                       Tel: +44 (0)20 7043 2116
 Richard Dennis, Chief Commercial Officer

 SP Angel Corporate Finance LLP  (Nominated Adviser & Broker)
 David Hignell/Richard Morrison/Josh Ray (Corporate Finance)  Tel: +44 (0) 20 3470 0470

 Vadim Alexandre (Corporate Broking)

About Proteome Sciences plc. (www.proteomics.com (http://www.proteomics.com/)
)

 

Proteome Sciences plc is a specialist provider of contract proteomics services
to enable drug discovery, development and biomarker identification, and
employs proprietary workflows for the optimum analysis of tissues, cells and
body fluids. SysQuant® and TMT®MS2 are unbiased methods for identifying and
contextualising new targets and defining mechanisms of biological activity,
while analysis using Super-Depletion and TMTcalibrator™ provides access to
over 8,500 circulating plasma proteins for the discovery of disease-related
biomarkers. Targeted assay development using mass spectrometry delivers high
sensitivity, interference-free biomarker analyses in situations where standard
ELISA assays are not available.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Richard Dennis
 2.  Reason for the notification
 a)  Position/status:                                              Chief Commercial Officer
 b)  Initial notification/Amendment:
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                                         Proteome Sciences plc
 b)  LEI:                                                          213800Q62ICXANKU2986
 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 of £0.01 each

     Identification code:

                                                                   ISIN: GB0003104196
 b)  Nature of the transaction:                                    Subscription for Fundraise Shares
 c)  Price(s) and volume(s):

Price(s)  Volume(s)
                                                                   1.75p     1,428,571
 d)  Aggregated information:                                       Single transactions as in 4 c) above

     Aggregated volume:

     Price:
 e)  Date of the transaction:                                      26 January 2026
 f)  Place of the transaction:                                     Outside a trading venue

d)

Aggregated information:

Aggregated volume:

Price:

Single transactions as in 4 c) above

 

e)

Date of the transaction:

26 January 2026

f)

Place of the transaction:

Outside a trading venue

 

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