REG - Redx Pharma plc - Results of General Meeting

Redx PharmaAnnouncement

06/11/2023 11:30

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RNS Number : 5058S  Redx Pharma plc  06 November 2023

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OTHERWISE ACQUIRE SHARES IN REDX PHARMA PLC IN ANY JURISDICTION.

 

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EXCHANGE COMMISSION OR ANY OTHER SECURITIES COMMISSION OR REGULATORY AUTHORITY
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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
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BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

 

REDX PHARMA PLC

("Redx" or "the Company")

 

Results of General Meeting

 

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

 

On 18 October 2023, Redx announced that it had conditionally raised
£14,059,359 million (before expenses) by way of a subscription for 54,074,458
Subscription Shares at the Issue Price of 26 pence per Subscription Share, by
certain existing shareholders.

 

The Subscription 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 Subscription Shares are expected to be admitted to trading on AIM at 8:00
a.m. on 7 November 2023.

 

Capitalised terms used but not defined herein shall have the same meanings
given to them in the announcement of the Subscription published 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: +44 203 705 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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