REG - Redx Pharma plc - Results of General Meeting

Redx PharmaAnnouncement

06/06/2022 12:00

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RNS Number : 8486N  Redx Pharma plc  06 June 2022

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REDX PHARMA PLC

("Redx" or "the Company")

 

Results of General Meeting

 

Alderley Park, 6 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 the results of its General Meeting held today at
11:00 a.m.

 

On 19 May 2022, Redx announced that it had conditionally raised £34,261,864
(before expenses) by way of a placing of 58,070,956 Placing Shares at the
Issue Price of 59 pence per Placing Share with new and existing institutional
investors.

 

The Placing is conditional, amongst other things, upon the passing of certain
resolutions at the General Meeting, held today at 11:00 a.m. All the
resolutions proposed at the General Meeting were duly passed by the requisite
majority.

 

The Placing Shares are expected to be admitted to trading on AIM at 8:00 a.m.
on 7 June 2022.

 

Lisa Anson, Chief Executive Officer, Redx Pharma, commented: "We are delighted
to receive Shareholder approval for this fundraise and I would again like to
thank our existing and new shareholders for their strong support. This
investment will allow us to continue progressing our clinical assets through
Phase 2 studies and commence the preclinical work required for IND submission
of RXC008, as well as advancing the pipeline from our discovery engine towards
our goal of three wholly-owned INDs by 2025."

 

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.

 

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/

 

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