REG - Redx Pharma plc - New Grant of Options

Redx PharmaAnnouncement

30/06/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230630:nRSd4626Ea&default-theme=true

RNS Number : 4626E  Redx Pharma plc  30 June 2023

REDX PHARMA PLC

("Redx" or the "Company")

New Grant of Options

Alderley Park, UK, 30 June 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 a new grant of options.

The Board has granted additional options to Lisa Anson (Chief Executive
Officer) and Peter Collum (Chief Financial Officer) on 30 June 2023, both of
whom are classed as persons discharging managerial responsibility ("PDMRs")
under EU Regulation 596/2014 as it forms part of domestic law in the United
Kingdom by virtue of the European Union (Withdrawal) Act 2018, as set out
further below.   The options are being granted at 26.5 pence per Ordinary
Share, being the market price at the close of business on 29 June 2023.
Subsequent vesting will be subject to certain time criteria having been met.

 

 Name                          Position                   Number of Options Granted    Vesting Date    Total Options Held Following the Grant
 Lisa Anson (Director/PDMR)    Chief Executive Officer    500,000                      30 June 2026    14,883,586

 Peter Collum                  Chief Financial Officer    500,000                      30 June 2026    3,200,000

 (PDMR)

 

In addition, options over a further 2,000,000 Ordinary Shares of 1 pence each
will be granted on 30 June 2023 to certain other staff of the Company. These
options will also be granted at 26.5 pence per Ordinary Share, with vesting
also subject to certain time criteria having been met.

 

Following the grants referred to above, the Company will have granted options
over a total of 48,221,295 Ordinary Shares, representing 14.4 per cent. of the
share capital in issue. The number of options that may be awarded remains
limited such that the aggregate number of Ordinary Shares of 1p each under
option will be less than 15 per cent. of the total issued share capital of the
Company.

 

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 (PDMR) / person
       closely associated
 a)    Name                                                           Lisa Anson

 2.    Reason for the notification
 a)    Position / status                                              Chief Executive Officer

 b)    Initial notification / Amendment                               Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                           Redx Pharma plc

 b)    LEI                                                            213800HMS4EBXO589Y37

 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    Options over Ordinary Shares of 1 pence each in Redx Pharma plc

       Identification code                                            ISIN for Redx Pharma plc Ordinary Shares:

                                                                      GB00BSNB6S51

 b)    Nature of the transaction                                      Grant of options under the Redx All Employee Share Option Scheme
 c)    Prices(a) and volume(s)

Exercise Price per Ordinary Share    Volume
                                                                      26.5 pence                           500,000 Ordinary Shares

 

 d)    Aggregated information

       - Aggregated volume                                            N/A

       - Price
 e)    Date of the transaction                                        30 June 2023
 f)    Place of the transaction                                       Outside a trading venue

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

30 June 2023

f)

Place of the transaction

Outside a trading venue

 

 

 

 1.    Details of the person discharging managerial responsibilities (PDMR) / person
       closely associated
 a)    Name                                                           Peter Collum

 2.    Reason for the notification
 a)    Position / status                                              Chief Financial Officer

 b)    Initial notification / Amendment                               Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                           Redx Pharma plc

 b)    LEI                                                            213800HMS4EBXO589Y37

 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    Options over Ordinary Shares of 1 pence each in Redx Pharma plc

       Identification code                                            ISIN for Redx Pharma plc Ordinary Shares:

                                                                      GB00BSNB6S51

 b)    Nature of the transaction                                      Grant of options
 c)    Prices(a) and volume(s)

Exercise Price per Ordinary Share    Volume
                                                                      26.5 pence                           500,000 Ordinary Shares

 

 d)    Aggregated information

       - Aggregated volume                                            N/A

       - Price
 e)    Date of the transaction                                        30 June 2023
 f)    Place of the transaction                                       Outside a trading venue

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

30 June 2023

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 For further information, please contact:

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

 UK Headquarters

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

 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 (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 commenced a Phase 2a trial for idiopathic
pulmonary fibrosis (IPF) in October 2022, with topline data expected in Q1
2024. 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 combination with anti-PD-1 Phase 2 data during 2023. 
Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the
treatment of fibrostenotic Crohn's disease, is progressing towards a CTA
application at the end of 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
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/) .   

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHKKLFLXQLBBBF