REG - Redx Pharma plc - Admission of Subscription Shares and TVR

Redx PharmaAnnouncement

07/11/2023 08:15

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RNS Number : 6245S  Redx Pharma plc  07 November 2023

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, CANADA, AUSTRALIA, 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.

 

THE SECURITIES DISCUSSED HEREIN MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES, UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(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 SUBSCRIPTION. 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 Subscription Shares and Total Voting Rights

 

 

Alderley Park, 7 November 2023, Redx (AIM: REDX), the clinical-stage
biotechnology company focused on discovering and developing novel, small
molecule, targeted therapeutics for the treatment of fibrotic disease and
cancer, announces that the admission to trading on AIM of the 54,074,458
Subscription Shares referred to in the announcement of the Results of General
Meeting on 6 November 2023 became effective at 8:00 a.m. this morning.

 

Key highlights

 

·     Subscription for 54,074,458 Subscription Shares at the Issue Price
of 26 pence per Subscription Share to raise £14,059,359 (before expenses) by
existing shareholders.

 

·     One of the Redmile Funds, which taken together are the Company's
largest shareholder, has participated in the Subscription and has subscribed
for 31,548,692 Subscription Shares at the Issue Price. Sofinnova Partners, an
existing Shareholder, has also participated in the Subscription and has
subscribed for 7,887,173 Subscription Shares at the Issue Price. In addition,
Polar Capital and Invus, both existing shareholders of the Company, have also
participated in the Subscription, either directly or through entities in their
respective groups.

 

Following Admission, the number of Ordinary Shares in issue and the number of
total voting rights will be 388,985,916. The figure of 388,985,916 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.

 

Capitalised terms used but not defined herein shall have the same meanings
given to them in the announcement of the Subscription by the Company on 18
October 2023.

 

The person responsible for the release of this announcement on behalf of the
Company is Nischal Hindia, Interim General Counsel & 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

 MTS Securities, LLC  (Exclusive Placement Agent)            T: +1 212 887 2100
 Mark Epstein

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

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

 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, targeted therapeutics
for the treatment of fibrotic disease, cancer and the emerging area of
cancer-associated fibrosis, aiming initially to progress them to clinical
proof of concept before evaluating options for further development and
potential value creation. The Company's lead fibrosis product candidate, the
selective ROCK2 inhibitor, zelasudil (RXC007), is in development for
interstitial lung disease and is undergoing a Phase 2a trial for idiopathic
pulmonary fibrosis (IPF) with topline data expected in H1 2024. The Company's
second fibrosis candidate, RXC008, a GI-targeted ROCK inhibitor for the
treatment of fibrostenotic Crohn's disease, is progressing towards a CTA
application during the fourth quarter of 2023. Redx's lead oncology product
candidate, the Porcupine inhibitor RXC004, being developed as a targeted
treatment for Wnt-ligand dependent cancers, is expected to report anti-PD-1
combination Phase 2 data during the first half of 2024, following which Redx
will seek a partner for ongoing development. In October 2023, Redx nominated
its next development candidate, RXC009 a highly potent and selective DDR1
inhibitor for the treatment of chronic kidney disease and associated fibrosis.

 

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 wholly-owned clinical-stage
product candidates and discovery pipeline, but also by its strategic
transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a
non-covalent (reversible) BTK inhibitor now approved by the US FDA for adult
patients with mantle cell lymphoma previously treated with a covalent BTK
inhibitor, and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic
diseases including IPF, which AstraZeneca is progressing in a Phase 1 clinical
study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals,
which includes JZP815, a pan-RAF inhibitor developed by Redx which Jazz is now
progressing through Phase 1 clinical studies, and an early stage oncology
research collaboration.

 

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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