REG - Redx Pharma plc - Admission of Placing Shares

Redx PharmaAnnouncement

07/06/2022 08:15

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RNS Number : 9677N  Redx Pharma plc  07 June 2022

THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR
OTHERWISE ACQUIRE SHARES IN REDX PHARMA PLC IN ANY JURISDICTION IN WHICH ANY
SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

THE SECURITIES DISCUSSED HEREIN ARE NOT AND WILL NOT BE REGISTERED UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES, UNLESS REGISTERED UNDER THE SECURITIES
ACT, OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
REGISTRATION UNDER THE SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES
DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE
UNITED STATES AND THE COMPANY DOES NOT CURRENTLY INTEND TO REGISTER ANY
SECURITIES UNDER THE SECURITIES ACT. ADDITIONALLY, THE SECURITIES HAVE NOT
BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION OR ANY OTHER SECURITIES COMMISSION OR REGULATORY AUTHORITY IN THE
UNITED STATES, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR
ENDORSED THE MERITS OF THE FUNDRAISING. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENCE IN THE UNITED STATES.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

REDX PHARMA PLC

("Redx" or "the Company")

 

Admission of Placing Shares and Total Voting Rights

 

 

Alderley Park, 7 June 2022, Redx (AIM: REDX), the clinical stage
biotechnology company focused on discovering and developing novel, small
molecule, highly targeted therapeutics for the treatment of cancer and
fibrotic disease, announces that the admission to trading on AIM of the
58,070,956 Placing Shares referred to in the announcement of the Results of
General Meeting on 6 June 2022 became effective at 8:00 a.m. this morning.

 

Key highlights

 

·     Placing of 58,070,956 new Ordinary Shares at the Issue Price of 59
pence per Placing Share to raise £34,261,864 (before expenses) with new and
existing institutional investors.

 

·     Redmile, the Company's largest shareholder, and Sofinnova both
supported the Placing, with 27,461,017 Placing Shares issued to the Redmile
Group and 16,949,153 Placing Shares issued to Sofinnova. Existing shareholders
Polar Capital LLP and Platinum International Healthcare Fund also participated
in the Placing as well as new specialist healthcare investor, Paris-based,
Invus.

 

Following Admission, the number of Ordinary Shares in issue and the number of
voting rights will be 333,353,161. The figure of 333,353,161 Ordinary Shares
may be used by Shareholders as the denominator for the calculations by which
they will determine whether they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

In addition, the Company confirms that all conditions have been met in
relation to the options granted to Lisa Anson, Richard Armer, Jane Robertson,
James Mead, Claire Solk and Peter Collum, as announced on 19 and 20 May 2022.

 

Capitalised terms used but not defined herein shall have the same meanings
given to them in the announcement of the launch of the Placing via the
Bookbuild published by the Company on 18 May 2022. For the purposes of this
Announcement, Redmile Group means funds managed by Redmile Group, LLC.

 

The person responsible for the release of this Announcement on behalf of the
Company is Andrew Booth, Company Secretary.

 

 

 For further information, please contact:

 Redx Pharma plc                                                                T: +44 (0)1625 469 918

 Caitlin Pearson, Head of Communications ir@redxpharma.com
 (mailto:ir@redxpharma.com)

 UK Headquarters

 Lisa Anson, Chief Executive Officer
 US Office

 Peter Collum, Chief Financial Officer

 SPARK Advisory Partners (Nominated Adviser)                                    T: +44 (0)203 368 3550
 Matt Davis/ Adam Dawes

 WG Partners LLP (Global Coordinator and Joint Bookrunner)                      T: +44 (0)203 705 9330
 Claes Spång/ Satheesh Nadarajah/ David Wilson

 Panmure Gordon (UK) Limited (Joint Bookrunner)                                 T: +44 (0)207 886 2500
 Rupert Dearden/ Freddy Crossley/ Emma Earl

 Stifel Nicolaus Europe Limited (Joint Bookrunner)                              T: +44 (0)207 710 7600
 Nicholas Moore/ Samira Essebiyea/ William Palmer-Brown (Healthcare Investment
 Banking)

 Nick Adams (UK Investment Banking)

 FTI Consulting                                                                 T: +44 (0)203 727 1000
 Simon Conway/ Ciara Martin

 

 

About Redx Pharma Plc

Redx Pharma (AIM: REDX) is a clinical-stage biotechnology company focused on
the discovery and development of novel, small molecule, highly targeted
therapeutics for the treatment of cancer and fibrotic diseases, aiming
initially to progress them to clinical proof of concept before evaluating
options for further development and potential value creation. Redx's lead
oncology product candidate, the Porcupine inhibitor RXC004, commenced a Phase
2 programme in November 2021. The Company's selective ROCK2 inhibitor product
candidate, RXC007, is in development for idiopathic pulmonary fibrosis and
commenced a Phase 1 clinical trial in June 2021. Encouraging safety and
pharmacokinetic data has been reported, and a Phase 2 clinical program is
confirmed to start in 2022. Redx's third drug candidate, RXC008, a GI-targeted
ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is
currently in pre-IND stage, with Phase 1 clinical studies expected to commence
in 2023.

 

The Company has a strong track record of discovering new drug candidates
through its core strengths in medicinal chemistry and translational science,
enabling the Company to discover and develop differentiated therapeutics
against biologically or clinically validated targets. The Company's
accomplishments are evidenced not only by its two wholly-owned clinical-stage
product candidates and rapidly expanding pipeline, but also by its strategic
transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a BTK
inhibitor now in Phase 3 clinical development by Eli Lilly following its
acquisition of Loxo Oncology and RXC006, a Porcupine inhibitor targeting
fibrotic diseases including idiopathic pulmonary fibrosis (IPF), which
AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has
forged collaborations with Jazz Pharmaceuticals.

 

To subscribe to Email Alerts from Redx, please visit:
www.redxpharma.com/investor-centre/email-alerts/
(http://www.redxpharma.com/investor-centre/email-alerts/)

 

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